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

$$659,000$

$$80,000$

$$131,000$

$$106,000$

$$40,000$

$$221,000$

$$203,000$

Required:

Prepare a schedule of cost of goods manufactured. Assume all raw materlals used in production were direct materlals.

Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.

Prepare an income statement.

Complete this question by entering your answers in the tabs below.

Required $2$

Required $3$