Superior Company provided the following data for the year ended December 31 (all reww materials are used In production as direct materials): Belling expense 218, 000 Purchases of raw materials 265,000 Direct labor Administrative expenses 154, 009 Manufacturing overhead applied to work in process 8 364, 000 Actual manufacturing overhead cont 351,006 Inventory balances at the beginning and end of the year were as follows; beginning End of Year Bay materials $ 55,060 10, 005 Work in process 24 009 Finished goods $ 31,000 The total manufacturing costs for the year were $675,000; the cost of goods available for sale totaled $745,000; the unadjusted cost of goods sold totaled $666,000; and the net operating income was $33,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hit Prepare the income statement and schedule of cost of goods solid first followed by the schedules of cost of goods manufactured.)Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income COGS COGM Statement Schedule Schedule Prepare an income statement for the year. Superior Company Income Statement Selling and administrative expenses:Income COGS COGM Statement Schedule Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold + Adjusted cost of goods sold statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income COGS COGM Statement Scumdule Schedule Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Direct materials: Total raw materials available Direct materials used in production