The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed:

Costs incurred: Direct labor cost ................................................... $70,000 Purchases of raw materials .................................. $118,000 Manufacturing overhead ...................................... $80,000 Advertising expense ............................................. $90,000 Sales salaries ....................................................... $50,000 Depreciation, office equipment ............................ $3,000

Beginning of the year End of the year Inventories: Raw materials ............................ $7,000 $15,000 Work in process .......................... $10,000 $5,000 Finished goods ............................ $20,000 $35,000

1. Prepare a schedule of cost of goods manufactured.

2. Prepare a schedule of cost of goods sold