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 $ 213,800 5267,000 Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $151,000 $378,000 356,600 Inventory balances at the beginning and end of the year were as follows: Beginning of End of Year 55,800 34,800 Year Raw materials Work in process Finished goods % 28,000 48,080 The total manufacturing costs for the year were $685,000, the cost of goods available for sale totaled $740,000, the unadjusted cost of goods sold totaled $663,000; 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. (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 C0GS COGM ement Schedde Schedule State Prepare an income statement for the year The total manufacturing costs for the year were $685,000, the cost of goods available for sale totaled $740,000, the unadjusted cost of goods sold totaled $663,000, 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. (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 Income COGS COGM Statement Schedule Schedule Prepare an income statement for the year Selling and administrative expenses COGS Schedule The total manufacturing costs for the year were $685,000: the cost of goods available for sale totaled $740,000; the unadjust of goods sold totaled $663,000; and the net operating income was $33,000. The company's underapplied or overapplied over 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 COGM COGS Statement ScheduleSchedule Prepare a schedule of cost of qoods sold. Superior Company Schedule of Cost of Goods Sold Adjusted cost of goods sold COGM Schedule