The following data from the just completed year are taken from the accounting records of Eccles Company: Sales Direct labour cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 769,000 108,000 150,000 118,000 61,000 228,000 256,000 Inventories: Raw materials Work in process Finished goods Beginning of Year $ 9,800 6,800 71,800 End of Year $11,800 21,800 26,800 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. ECCLES COMPANY Schedule of Cost of Goods Manufactured Direct materials: Raw materials used in production Total manufacturing cost Cost of goods manufactured 2. Prepare a schedule of cost of goods sold. ECCLES COMPANY Schedule of Cost of Goods Sold Adjusted cost of goods sold 3. Prepare an income statement. ECCLES COMPANY Income Statement Selling and administrative expenses