Superior Company provided the following data for the year ended December 31 {all raw materials are used in production as direct materials}: Selling expenses 211,666 Purchases of raw materials 262,666 Direct labor ? 151,666 1313 Administrative expenses $ Manufacturing overhead applied to work in process $ 3?6,666 Actual manufacturing overhead cost $ 358,666 Inventory balances at the beginning and end ofthe year were as follows: Beginning Ending Raw materials $ 5?,666 $ 31,666 work in process ? $ 28,666 Finished goods $ 33,666 ? The total manufacturing costs added to production for the year were $685,000; the cost of goods available for sale totaled $750,000: the unadjusted cost of goods sold totaled $662,000; and the net operating income was $39,000. 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. {HmrF'repare 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 9 a 10 3 0 Selling and administrative expenses: do Jo Ir 0Complete this question by entering your answers in the tabs below. Income COGS COGM Statement Schedule Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold - 2 Adjusted cost of goods sold Complete this question by entering your answers in the tabs below. Income COGS COGM Statement Schedule Schedule Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Direct materials: 2 3 Total raw materials available C Direct materials used in production S Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured