Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials) Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 219,000 $ 265,000 7 $ 154,000 $ 367,000 $ 354,000 Inventory balances at the beginning and end of the year were as follows: Raw materiala Work in process Tinished yoods Beginning $ 51.000 2 5 36,000 Ending $32,000 $28.000 The total manufacturing costs added to production for the year were $675,000; the cost of goods available for sale totaled 5745,000; the unadjusted cost of goods sold totaled $665,000; and the net operating income was $32,000. The company's underapplied or overopplied 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. (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 Statement COGS Schedule COGM Schedule Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. $ 51,000 Superior Company Schedule of Cost Goods Manufactured + Beginning work in process inventory Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for 51,000 Cost of goods manufactured Complete this question by entering your answers in the tabs below. Income COGS COGM Statement Schepleyle Schedule COGS Schedule Prepare an income statement for the year. Superior Company Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Administrative expenses Selling expenses 665,000 (665,000) 0 Net operating income $ 32,000 Inconaten COGS Schedule >