HW Chapter 3 You received partial credit in the previous attempt Check my work Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3) points Superior Company provided the following data for the year ended December 31 (allraw materials are used in production as direct materials) eBook References $ 140,000 $ 290,000 Selling expenses Purchases of raw materiala Direct labor Ministrative expenses Manufacturing overhead applied to work in process Metual manufacturing overhead cost 100,000 $285,000 $ 270,000 Inventory balances at the beginning and end of the year were as follows: Raw materials Work in process Finished goods Beginning of Year End of Year $ 40.000 $10,000 $ 35.000 $ 50.000 The total manufacturing costs for the year were $683,000; the cost of goods available for sale totaled $740,000, the unadjusted cost ULLIVU parudi credit in the previous attempt. Check my work Raw materials Work in process Finished goods Beginning of Year End of Year $ 40,000 $ 10,000 7 $ 35,000 $ 50,000 The total manufacturing costs for the year were $683,000; the cost of goods available for sale totaled $740,000; the unadjusted cost of goods sold totaled $660,000; and the net operating income was $30,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint Prepare the income 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 Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Direct materials