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The following data from the just completed year are taken from the accounting records of Mason Company Sales 659.000 Direct Labor cost 36,000 a material
The following data from the just completed year are taken from the accounting records of Mason Company Sales 659.000 Direct Labor cost 36,000 a material purchases 5.132.000 Selling expenses $102,000 Ministrative expenses 563,000 Kanafacturing overhead applied to work in process $ 272.000 Actual manufacturing overhead coats $206,000 Taventories Beginning Rasteriais 5 3.400 $10,700 Work in proces $ 5.300 $ 20,900 Tesished goods 5.77,000 $ 25,900 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materias 2. Prepare a schedule of cost of goods sold. Assume that the company's underapped or overspoed overhead is closed to cost of Goods Sold 3. Prepare an income statement Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Mason Company Schedule of Cont of Goods Manufactured + Direct materials: Total raw materials available Direct materials used in production 0 Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured Required 2 Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold, Mason Company Schedule of Cont of Goods Sold Required Required 2 Required 3 Prepare an income statement. Mauon Company Income Statement 0 Selling and adminiatrative expennos; 0 0 Required 2
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