Question: please help thank you The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost

please help thank you  please help thank you The following data from the just completed
year are taken from the accounting records of Mason Company: Sales Direct
labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied
to work in process Actual manufacturing overhead costs $ 659,000 $ 87,000

The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 659,000 $ 87,000 $ 132,000 $ 109,000 $ 43,000 $209,000 $ 223,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,400 $ 5,400 $ 75,000 Ending $ 10,600 $ 20,500 $25,500 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production wer Mason Company Schedule of Cost of Goods Manufactured Direct materials: 3 Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured Required 2 > Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhea of Goods Sold. Mason Company Schedule of Cost of Goods Sold 11111/ Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement. Mason Company Income Statement Selling and administrative expenses: ( Required 2 Required

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!