Help Save & Exit Submit Check my work 11 Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] 1 points The following data from the just completed year are taken from the accounting records of Mason Company eBook Hint Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Ask $524,000 $ 70,000 $118,000 $140,000 $ 63,000 $ 90,000 $ 80,000 Print References Inventories Raw materials Work in process Finished goods Beginning $ 7,000 $ 10,000 5 20,000 $ $ $ Ending 15,000 5,000 35,000 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 Gooris Sold MC Graw Hit 11 Required 1 Required 2 Required 3 Prepare an income statement. 1 points Mason Company Income Statement eBook Selling and administrative expenses 0