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The following data from the just completed year are taken from the accounting records of Mason Company: Required: 1. Prepare a schedule of cost of
The following data from the just completed year are taken from the accounting records of Mason Company: 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. Prebare a schedule of cost of aoods manufactured. Assume all raw materials used in produc Prepare a schedule of cost of goods sold. Assume that the compa of Goods Sold. Prepare an income statement
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