materials): Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work...

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materials): Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost Beginning and ending inventory balances were as follows: Beginning $ 214,000 $ 264,000 $ 157,000 $ 367,000 $ 354,000 Raw materials Work in process Finished goods Ending $ 59,000 $ 33,000 ? $ 29,000 $ 37,000 ? The total manufacturing costs added to production for the year were $690,000; the cost of goods available the unadjusted cost of goods sold totaled $665,000; and the net operating income was $36,000. The comp 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: P 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 an income statement for the year. Superior Company Income Statement Selling and administrative expenses: Income Statement 0 0 COGS Schedule materials): Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost Beginning and ending inventory balances were as follows: Beginning $ 214,000 $ 264,000 $ 157,000 $ 367,000 $ 354,000 Raw materials Work in process Finished goods Ending $ 59,000 $ 33,000 ? $ 29,000 $ 37,000 ? The total manufacturing costs added to production for the year were $690,000; the cost of goods available the unadjusted cost of goods sold totaled $665,000; and the net operating income was $36,000. The comp 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: P 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 an income statement for the year. Superior Company Income Statement Selling and administrative expenses: Income Statement 0 0 COGS Schedule