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 $654,000 $ 81,000 $136.000 $100,000 $ 45,000 $202,000 $229,000 Inventories Beginning Ending Raw materiala $8,600 $10,800 Work in $ 5,200 $20,100 process Finished goods $78,000 $25,600 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 overappiled 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 Required Required Prepare an income statement. Mason Company Income Statement Selling and administrative expens