Question: Please help with the question below. Thank you! The following data from the just completed year are taken from the accounting records of Mason Company:

Please help with the question below. Thank you!

Please help with the question below. Thank you! The following data fromthe just completed year are taken from the accounting records of MasonCompany: Sales Direct labor cost Raw material purchases Selling expenses Administrative expensesManufacturing overhead applied to work in process Actual manufacturing overhead costs 652,000

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 652,000 $ 87,000 138,000 $ 102,000 $ 49,000 201,000 $229,000 Inventories Ending 10,800 20,400 $25,500 Beginning 8,900 $ 5,400 $72,000 Raw materials Work in process Finished goods 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 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 Raw materials used in production Total manufacturing costs 0 Cost of goods manufactured Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Mason Company Schedule of Cost of Goods Sold Required 2 Required 1 Required 3 Prepare an income statement. Mason Company Income Statement 0 Selling and administrative expenses 0 $ 0

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