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

	Costs incurred:
	Direct labor cost…………………………	$70,000
	Purchases of raw materials ……………..	$118,000
	Indirect labor……………………………	$30,000
	Maintenance, factory equipment………..	$6,000
	Advertising expense……………………..	$90,000
	Insurance, factory equipment……………	$8,000
	Sales salaries…………………………….	$50,000
	Rent, factory facilities…………………..	$20,000
	Supplies………………………………….	$4,200
	Depreciation, office equipment………….	$3,000
	Depreciation, factory equipment………...	$19,000
			Beginning of  the year	End of the year
Inventories;
Raw materials……………………………………..			$7,000	$15,000
Work in process……………………………………			$10,000	$5,000
Finished goods……………………………………			$20,000	$35,000

Required: 

1. Prepare a schedule of cost of goods manufactured in good form.

2. Prepare the cost of goods sold section of Mason Company’s income statement for the year.