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The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases

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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 Beginning Ending $ 8,600 $ 10,600 $ 654,000 $ 90,000 $ 137,000 $ 102,000 $ 45,000 $ 225,000 $ 210,000 Work in process $ 5,000 $ 77,000 $ 20,600 $ 25,300 Finished goods Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhea Goods Sold. 8. Prepare an income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3

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