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 660,000 82,000 133,000 107,000 49,000 209,000 226,000 Inventories Raw materials Work in process Pinished goods Beginning Ending $ 8,600 10,300 $5,300 20,200 s 74,000 25,700 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 1Required 2 Required3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct Mason Company Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured Required 2 > Required 1 Required 2 Required3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or over of Goods Sold. Mason Company Schedule of Cost of Goods Sold Required1 Required 3 > Required 1 Required 2 Required3 Prepare an income statement. Mason Company Income Statement Selling and administrative expenses