Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): 15 points Selling expenses Purchases of raw materials Direct labor Administrative expenseu Manufacturing overhead applied to work in process Actualment acturing overhead cost 214,000 $ 262,000 > $ 152.000 $365,000 $352,000 eBoo Inventory balances at the beginning and end of the year were as follows: Print Raw materials Work in process Tinished goods Beginning $ 54,000 7 $ 38,000 Ending $ 40,000 $ 33.000 7 References The total manufacturing costs added to production for the year were $670,000, the cost of goods available for sale totaled $730,000 the unadjusted cost of goods sold totaled $668,000, and the net operating income was $37.000. The company's underapplied or overapplied overhead is closed to Cost of Goods Soldy 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.)