The following data from the just completed year are taken from the accounting records of Mason Company: $659,000 $ 81,000 $ 136,000 $ 105,000 $45,000 Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 202,000 $ 223,000 Ending $ 10,200 $20,800 $ 25,200 Beginning Inventories Raw materials Work in process Finished goods $ 8,100 $ 5,900 $ 77,000 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. 3 Check my work 3 Required 1 Required 2 Required 3 Prepare an income statement. 12.5 points Mason Company Skipped Income Statement Print 0 Selling and administrative expenses: 0 $ 0 Required 2 Required 3 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 Cost of Goods Sold KRequired 1 Required 3 Che 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 0 Cost of goods manufactured Required 1 Required 2 > Prev 3 of 8 Next>