The following data from the just completed year we taken from the accounting records of Mason Company 4 Sales Direct labore Material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs 5655,000 3,000 $ 130,000 $107.000 $47.000 $ 220,000 $ 200,000 Inventor Rawatarinis Work in process Finished goods winning $ 8,300 $ 10,600 55,700 520,700 $ 73,000 $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. Assume that the company's underopplied or overapplied overhead is closed to cost of Goods Sold 3. Prepare an income statement Complete this question by entering your answers in the tabs below. The following data from the just completed year are taken from the accounting records of Mason Company 4 Store Sales Direct labor cost Raw saterial purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs 5 655,000 $5,000 $136.000 $ 107,000 $ 47,000 $ 220,000 $200,000 Tnventaries Raw materials Work in process Finished goods Beginning Ending $3,900 $ 10,000 $ 5,700 5 20,700 $ 73,000 $ 25, 800 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 overapped overhead is closed to cost of Goods Sold 3. Prepare an income statement Complete this question by entering your answers in the tabs below