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

Sales	$	658,000
Direct labor cost	$	87,000
Raw material purchases	$	133,000
Selling expenses	$	106,000
Administrative expenses	$	41,000
Manufacturing overhead applied to work in process	$	205,000
Actual manufacturing overhead costs	$	228,000

Inventories	Beginning of Year		End of Year
Raw materials	$	8,200	$	10,100
Work in process	$	6,000	$	20,700
Finished goods	$	79,000	$	25,500

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.

3.	Prepare an income statement.