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

please help!
please help! 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 overbead costs $ 654,000 $ 89,000 $ 132,000 $

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 overbead costs $ 654,000 $ 89,000 $ 132,000 $ 100,000 $ 46,000 $ 222,000 $ 202,000 45 Inventories Raw materials Work in process Finished goods Beginning S 8,660 $. 5,700 $ 72,000 Ending $ 10,100 $ 20,700 $ 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 3. Prepare an income statement. Goods Sold Complete this question by entering your answers in the tabs below. onces Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials Mason Company Schedule of Cost of Goods Manufactured Direct materials Total raw materials available 2.5 points Required 1 Required 2 Required 02:03:48 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold ebook Mason Company Schedule of Cost of Goods Sold Hint Print Merences 5 pints Required 1 Required 2 Required 3 18 02:13:30 Prepare an income statement. Mason Company Income Statement ook Hint Selling and administrative expenses Print References Required 2

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!