The following data from the just completed year are taken from the accounting records of Mason Company. The following data from the just completed year are taken from the accounting records of Mason Company Sales 51 657 7090 Sales $ 657,600 How material purchases Direct labor cost 5 134,909 $ 87,090 selling expenses Raw material purchases $ 134,600 Administrative ex $ 101,600 manufacturing overhead applied to wet Actual manufacturing overhead costs $ 48,060 Manufacturing overhead applied to work in process 230,080 Inventor les Beginning Actual manufacturing overhead costs $ 209,080 Raw materials 530, 480 3 25,700 Inventories Beginning Ending Finished goods Raw materials $ 8, 806 $ 10,860 Required: Work in process $ 5, 200 $ 20,460 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Finished goods 72 560 $ 25, 700 Goods Sold 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied of overapplied overhead is closed to Cost of Required: 3. Prepare an income statement 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 Complete this question by entering your answers in the tabs below. 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. Complete this question by entering your answers in the tabs below. Schedule of Cost of Goo Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sol Total raw materials avalable Mason Company Direct materials used in product Schedule of Cost of Goods Sold Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured Required 2 > The following data from the just completed year are taken from the accounting records of Mason Company. sales $1657,809 Direct labor cost Raw material purchases $ 134,609 Selling expenses Manufacturing overhead applied to work in process $ 230, 696 Actual manufacturing 3 209 906 Inventories Beginning $ 8,860 $ 5,200 $ 20,400 Finished goods $ 72, 060 $ 25, 700 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 stateme Complete this question by entering your ers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement Mason Company Income Statement Selling and administrative expenses