The following data from the Just completed year are taken from the accounting records of Mason Company: Sales 5 658.600 Direct labor cost 5 83.608 Raw material purchases $ 137,063 Selling expenses $ 167,066 Administrative expenses 5 45.008 Manufacturing overhead applied to work in process $ 222,006 Actual manufacturing overhead costs $ 219,080 ZInventories Beginning Ending Raw materials $ 3,466 $ 16,868 Work in process 3 5.3% $ 26,710 ces Finished goods 5 78.98! $ 25.186 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 overapplled overhead ls closed to Cost of Goods Sold. 3. Prepare an income statement. E Compile\" thls' question by entering your lumen In than!\" below. l E \\. I 1 Draw A n' A ll! M