The following data from the just completed year are taken from the accounting records of Mason Company: $ 652,000 $ 85,000 $ 133, 000 107,000 $ 40,000 202,000 $ 223,000 Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods Beginning Ending $ 8,800 10,300 $ 5,700 20,500 78,000 25, 700 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. Required 1Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials Mason Company Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured Required 1 Required 2Required 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 Cost of Goods Sold K Required 1 Required 3 > Required 1 Required 2Required 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 Cost of Goods Sold K Required 1 Required 3 >