The following data from the just completed year are taken from the accounting records of Mason Company:

Sales	$	654,000
Direct labor cost	$	84,000
Raw material purchases	$	138,000
Selling expenses	$	106,000
Administrative expenses	$	50,000
Manufacturing overhead applied to work in process	$	207,000
Actual manufacturing overhead costs	$	225,000

Inventories	Beginning		Ending
Raw materials	$	8,900	$	10,300
Work in process	$	5,600	$	20,200
Finished goods	$	79,000	$	25,300

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

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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 Raw materials used in production Total manufacturing costs 0 Cost of goods manufactured