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. Inventories. Raw materials Ending Beginning $ 8,600 $ 10,800 Work in process $5,800 $ 20,000 Finished goods $ 74,000 $ 25,900 $660,000 $ 83,000 $ 139,000 $ 109,000 $ 43,000 $225,000 $ 207,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct mat- 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is Goods Sold. 3. Prepare an income statement. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Wheducation.com/ext/map/index.html.concontesternal browser-Olaunchuri Homework (Ch. 3) 0 Check my work mode: This shows what is correct or incorrect for the work you Requered 1 Reque Requ Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production Mason Company Schedule of Cost of Goods Manufactured Drectals Begning raw my Add: Purchases of 00 Less Ending raw materials inventory Drect materials used in productis Do 0 Manufacturing overhead 0 Total manufacturing costs added to production Total manufacturing costs to account h Lass Ending work in process inventory Cost of goods manufactu CO 40 Required 2> Check my work mode: This shows what is correct or in Complete this question by entering your answers in the tabs br Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's u of Goods Sold. Mason Company Schedule of Cost of Goods Sold Beginning finished goods inventory. Add Cost of goods manufactured Cost of goods available for sale Less Ending finished goods inventory Unadjusted cost of goods sold Less Overapplied overhead Adjusted cost of goods sold < Required 1 Rec heducation Homework (Ch. 3) external browser08launchUrt Check my work mode: This shows what is correct or inc Complete this question by entering your answers in the tabs b Required 1 Required 2 Prepare an income statement. Required 3 Mason Company Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expense Net operating income 0 $ 0