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 $ 89,000 $ 138,000 $ 107,000 $ 42,000 $ 230,000 $210,000 Inventories Raw materials: Work in process Beginning $ 8,100 Ending $ 10,700 $ 5,700 $ 74,000 $ 20,900 $ 25,600 Finished goods 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. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Mason Company Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Direct materials used in production + es Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Lost of Goods Sold. Mason Company Schedule of Cost of Goods Sold Required 3 hts Skipped Prepare an income statement. Mason Company Income Statement Selling and administrative expenses: eBook Hint Cont References 0 0 $ 0 13