Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials):

Selling expenses	$ 214,000
Purchases of raw materials	$ 265,000
Direct labor	?
Administrative expenses	$ 152,000
Manufacturing overhead applied to work in process	$ 374,000
Actual manufacturing overhead cost	$ 356,000

Inventory balances at the beginning and end of the year were as follows:

	Beginning	Ending
Raw materials	$ 51,000	$ 34,000
Work in process	?	$ 29,000
Finished goods	$ 33,000	?

The total manufacturing costs added to production for the year were $680,000; the cost of goods available for sale totaled $735,000; the unadjusted cost of goods sold totaled $667,000; and the net operating income was $35,000. The companys underapplied or overapplied overhead is closed to Cost of Goods Sold.

Required:

Prepare schedules of cost of goods manufactured, cost of goods sold, and an income statement.