The following data from the just completed year are taken from the accounting records of Mason Company:

Sales	$	657,000
Direct labor cost	$	84,000
Raw material purchases	$	138,000
Selling expenses	$	100,000
Administrative expenses	$	43,000
Manufacturing overhead applied to work in process	$	203,000
Actual manufacturing overhead costs	$	220,000

Inventories	Beginning of Year		End of Year
Raw materials	$	8,100	$	10,500
Work in process	$	5,400	$	20,700
Finished goods	$	75,000	$	25,000

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.

3.	Prepare an income statement.