The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 660,000 Direct labor cost $ 85,000 Raw material purchases $ 136, 000 Selling expenses $ 106,000 Administrative expenses $ 48,000 Manufacturing overhead applied to work in process $ 227,000 Actual manufacturing overhead costs $ 204, 000 Inventories Beginning Ending Raw materials 8, 100 $ 10,500 Work in process $ 5, 100 $ 20, 200 Finished goods $ 78, 000 $ 25, 400 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 o Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below. 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