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 $ 83,000 $ 138,000 $ 100,000 $ 40,000 $ 222,000 $ 209,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,500 $ 5,300 $ 79,000 Ending $ 10,400 $ 20,500 $ 25, 200 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materia 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is clo Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below. 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 co of Goods Sold. $ 79,000 Mason Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Less: Overapplied overhead Adjusted cost of goods sold 25,200