TranscribedText: I'G""ll e Prepare schedules of cost of goods manufactured and cost of goods sold and an income statemen statement and schedule of cost of goods sold first followed by the schedule of cost of goods manu Complete this question by entering your answers in the tabs below. Income COGS COGM Statement Schedule Schedule Prepare a schedule of cost of goods sold. Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale ess: Ending finished goods inventory nadjusted cost of goods sold ess: Overapplied overhead Adjusted cost of goods sold COGM Schedule > < Income Statement Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: | statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufacturec Complete this question by entering your answers in the tabs below. Income COGS COGM Statement Schedule Schedule Prepare a schedule of cost of goods manufactured. Total manufacturing costs added to production __ Total manufacturing costs to account for _- Cost of goods manufactured __ < COGS Schedule Complete this question by entering your answers in the tabs below. Income COGS COGM Statement Schedule Schedule Prepare an income statement for the year. Superior Company Income Statement Sales Cost of goods sold Gross margin 0 Selling and administrative expenses: Selling expenses Administrative expenses Net operating income < Income Statement COGS ScheduleChapter 3 @ 5 points eBook Print B References Saved Help Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): 17,000 61,000 ? Selling expenses $ 2 Purchases of raw materials $ 2 Direct labor ? Administrative expenses $ 158,000 Manufacturing overhead applied to work in process $ 370,000 $ Actual manufacturing overhead cost 354,000 Inventory balances at the beginning and end of the year were as follows: Beginning Ending Raw materials $ 56,000 $ 33,000 Work in process i $ 33,000 Finished goods $ 35,000 2 The total manufacturing costs added to production for the year were $675,000; the cost of goods available for sale totaled $735,000; the unadjusted cost of goods sold totaled $665,000; and the net operating income was $40,000. 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.) Complete this question by entering your answers in the tabs below. Income COGS COGM Statement Schedule Schedule Prepare an income statement for the year. e[

Prepare schedules of cost of goods manufactured and cost of goods sold and an income statemen statement and schedule of cost of goods sold first followed by the schedule of cost of goods manu Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Less: Overapplied overhead Adjusted cost of goods sold < Income Statement COGM Schedule >