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

Sales	$	660,000
Direct labor cost	$	88,000
Raw material purchases	$	136,000
Selling expenses	$	104,000
Administrative expenses	$	48,000
Manufacturing overhead applied to work in process	$	204,000
Actual manufacturing overhead costs	$	221,000

Inventories	Beginning of Year		End of Year
Raw materials	$	8,900	$	10,800
Work in process	$	5,300	$	20,300
Finished goods	$	76,000	$	25,100

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.

3.	Prepare an income statement.