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

Sales	$	651,000
Direct labor cost	$	82,000
Raw material purchases	$	138,000
Selling expenses	$	109,000
Administrative expenses	$	47,000
Manufacturing overhead applied to work in process	$	220,000
Actual manufacturing overhead costs	$	206,000

Inventories	Beginning		Ending
Raw materials	$	8,100	$	10,300
Work in process	$	5,700	$	20,700
Finished goods	$	70,000	$	25,100

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.

- example for the 1st one.

Please make sure the boxes are correct Thanks :)

Beginning work in process inventory Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less Ending raw materials inventory Raw materials used in production Less: Indirect materials used in production Direct materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured