The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed Costs incurred: Direct labour cost Purchases of raw materials. Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment Beginning of End of the Year the Year Inventories: Raw materials $9,600 $16,100 Work in process 11,900 6,750 Finished goods 39,700. 24,850 $ 86,000 136,000 38,000 7,600 106,000 1,060 66,000 32,000 6,200 29,000 5,100 Required: 1. Prepare a schedule of cost of goods manufactured Required: 1. Prepare a schedule of cost of goods manufactured. Direct materials: MASON COMPANY Schedule of Cost of Goods Manufactured Raw materials available for use Raw materials used in production Manufacturing overhead: Total overhead costs Total manufacturing costs Total work in process inventory Cost of goods manufactured 0 S 0 10 2. Prepare the cost of goods sold section of Mason Company's Income statement for the year. MASON COMPANY Income Statement (Partial) For the year just completed Goods available for sale Cost of goods sold