6 The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Beginning Ending $ 8,600 $10,800 Work in process $ 5,400 $20,400 Finished goods $76,000 $25,700 $656,000 $ 85,000 $131,000 $109,000 $ 47,000 $209,000 $227,000 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.