The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 653,000 $ 85,000 $ 135,000 $ 103,000 $ 44,000 $ 229,000 $ 205,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,900 $ 5,900 $ 71,000 Ending $ 10,700 $ 20,900 $ 25,600 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. ? Pronaro ncomortatomont