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 $ 660,000 $ 85,000 $ 132,000 $ 103,000 $ 47,000 $ 203,000 $ 227,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,400 $ 5,500 $ 77,000 Ending $ 10,100 $ 20,600 $ 25,800 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 Goods Sold. 3. Prepare an income statement. Cost of