The following data from the just completed year are taken from the accounting records of Mason Company Sales Direct labor coat Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead coats $ 655,000 81.000 5.136.000 $ 102,000 $ 47,000 $.201,000 $225,000 Inventories RAV saterials Work in proces Finished goods Beginning Ending $ 8.400 $ 10,300 5,700 $ 20,900 $ 79,000 $ 25,500 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 overopplied overhead is closed to Cost of Goods Sold 3. Prepare an income statement Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Mason Company Schedule of Cost of Goods Manufactured Direct materials Total raw materials avalable Raw materials used in production Total manufacturing costs 0 Cost of goods manufactured 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 expennen Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 655,000 $ 81,000 $ 134,000 $ 102,000 $ 47,000 $ 201,000 $ 225,000 Inventories Raw materiale Work in process Finished goods Beginning $ 8, 400 $ 5,700 $ 79,000 Ending $ 10,300 $ 20,900 $ 25,500 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Repliged 3 Prepare a schedule of cost of good Required 3 that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Mason Company Schedule of Cost of Goods Sold (Required 1 Required 3 > 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 $ 655,000 $ 81,000 $ 134,000 $ 102,000 $ 47,000 $ 201,000 $ 225,000 Inventories Raw materiale Work in process Finished goods Beginning $ 8,400 $ 5,700 $ 79,000 Ending $ 10,300 $ 20,900 $ 25,500 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement. Mason Company Income Statement 0 Selling and administrative expenses 0 $ 0
