chapter 3 #2

question 2:

question 4

im not sure about the numbers i put! please double chekc and make a new table just like the pictures

The following data from the just completed year are taken from the accounting records of Mason Company: $ 652,000 $ 84,000 $ 132,000 $ 107,000 $ 49,000 $ 228,000 $ 206,000 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 Work in process Finished goods Beginning $ 8,100 $ 5,700 $ 73,000 Ending $ 10,700 $ 20,700 $ 25,400 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. cer 3 2 59:55 ok t ces Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct m Mason Company Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Direct materials used in production Raw materials Direct labor Manufacturing overhead Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured $ 8,100 132,000 140,100 10,700 Prepare a schedule of cost of goods sold. Assume that the company's underappli- of Goods Sold. Mason 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 Cost of goods available for sale Add: Underapplied overhead Adjusted cost of goods sold $ $ 17 s Income Statement COGS Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold COGM Schedule 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 57:56 k ces 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 Statement Schedule Prepare a schedule of cost of goods manufactured. COGM Schedule Superior Company Schedule of Cost Goods Manufactured Direct materials: Beginning raw materials inventory Add: Ending raw materials inventory Total raw materials available Less: Ending raw materials inventory Direct materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured