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 costa $ 656,000 $ 83,000 $ 138,000 $ 101,000 $ 44,000 $ 202,000 $ 222,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,100 55.900 5 78,000 Endang $ 10,400 $ 21,000 $ 25,200 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 Goods Sold. 3. Prepare an income statement. Prepare a schedule of cost of goods manufactured. Assume all raw 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