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thank you so much! The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost
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The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 659,000 $ 88,000 $ 135,000 $ 102,000 $ 40,000 $ 222,000 $ 205,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,800 $ 5,200 $ 79,000 Ending $ 10,500 $ 20,800 $ 25,400 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement. Required 1 Required 2 Required 3 eBook Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direc Hint Mason Company Schedule of Cost of Goods Manufactured Print Direct materials: References Total raw materials available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured Required Required 2 > 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement nts Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Required 3 Hint Cost Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed of Goods Sold. Print Mason Company Schedule of Cost of Goods Sold eferences Prey 1 of 1 A Next 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is close Goods Sold 3. Prepare an income statement 30 points Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Required 3 Hint Prepare an income statement. Mason Company Print Income Statement References Selling and administrative expenses:Step by Step Solution
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