Chapter 3 Homework #2 (LO 3) Saved Help S LUS-S The following data from the just completed year are taken from the accounting records of Mason Company 4.66 points Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual sanufacturing overhead costs 651,eee $ 88,00e $ 139,00e $ 108,0e0 $ 43,00e s 203,8e8 227,80e 2022535) eBook Hint Print nningEnding 5 8,800 10,500 5 6,000 20,5e0 Raw materials Work in process Finished goods $ 70,66025,180 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 Goods Sold 3. Prepare an income statement Complete this question by entering your answers in the tabs below Prev 1of 3 Next> /connect.ht Chapter 3 Homework #2 (LO 3) 0 Sevad Help Seve & E Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 4.66 points of Cost of Goods Manufactured Direct materials Add Purchases of raw materials Total raw materials available Less Ending raw materials inventory Raw materials used in production $8800 139,000 147,800 10.500 Hint S 137,300 88.000 203.000 428.300 6,000 34 300 20,500 S 413,800 References Direct labor acturing overhead Total manufacturing costs Add Beginning work in process inventory Less Ending work in process inventory Cost of goods manufactured Prey of 3 Next>