4. The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cont Raw material purchases ts Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead conta $651,000 $80,000 5 138,000 108,000 $45,000 222,000 $209,000 Inventories Beginning Ending Raw materials 8,500 $ 10,300 Work in process Pinished goods 56,000 $74,000 5 21,000 $ 25,500 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 overapplied overhead is closed to Cost of Goods Sold 3. Prepare an income statement. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.