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

Sales $ 659,000

Direct labor cost $ 81,000

Raw material purchases $ 135,000

Selling expenses $ 110,000

Administrative expenses $ 50,000

Manufacturing overhead applied to work in process $ 208,000

Actual manufacturing overhead costs $ 225,000

:

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.

(Please write the answers in a piece of paper in a format where it is clearly visible)

Inventories Raw materials Work in process Beginning Ending $8,3001,78 $ 5,5ee 20,990 $ 70,e00 25,8e0 Finished goods