Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 218,000 $ 261,000 ? $ 152,000 $ 368,000 $ 356,000 Inventory balances at the beginning and end of the year were as follows: Raw materials Work in process Finished goods Beginning $ 50,000 ? $ 33,000 Ending $ 37,000 $ 24,000 ? The total manufacturing costs added to production for the year were $680,000; the cost of goods available for sale totaled $745,000; the unadjusted cost of goods sold totaled $668,000; and the net operating income was $36,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Check my work 3 Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule 3.34 points Prepare an income statement for the year. Skipped Superior Company Income Statement eBook Print 0 References Selling and administrative expenses: 0 Income Statement COGS Schedule > Ch 3 Graded Homework Saved Help Save & Exit Subr Check my work 3 Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule 3.34 points Prepare a schedule of cost of goods sold. Skipped Superior Company Schedule of Cost of Goods Sold eBook Print References Adjusted cost of goods sold Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Direct materials: Total raw materials available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured