$2)$ On December $31,$ Year $1,$ Zeus Manufacturing reported the following balances in its

inventory accounts:

Account Balance

Raw materials inventory $ $23,300$

Work in process inventory $35,500$

Finished goods inventory $29,300$

The following events occurred during Year $2$:

a$.$ Purchased raw materials for cash, $$386,000.$

b$.$ Raw materials used to make products, $$380,000.$

c$.$ Direct labor costs of $$211,000$ were paid in cash.

d$.$ Paid cash for actual overhead costs, $$205,000.$

e$.$ Completed products that cost $$722,000.$

f$.$ Sold goods that had cost $$702,000$ for $$981,000$ cash.

g$.$ Paid cash for selling and administrative expenses, $$230,000.$

REQUIRED

$1.$ Prepare Zeus' schedule of cost of goods manufactured and sold for Year $2.$

$2.$ Prepare the income statement for Year $2.$

$3.$ Calculate the balances in the Raw Materials, Work in Process, and Finished Goods

Inventory accounts as of December $31,$ Year $2.$