QUESTION 3 Question three: (5 points) The following data from the just completed year are taken from the accounting records of Mason Company: Sales $262,000 Direct labor cost $35,000 Raw material purchases $59,000 Selling expenses $70,000 Administrative expenses $31,500 Manufacturing overhead applied to work in process $45,000 Actu anufacturing overhead costs $40,000 Inventories Raw materials Work in process Finished goods Beginning of Year $3,500 $5,000 $10,000 End of Year $7,500 $2,500 $17,500 Required: Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI U S Paragraph Arial !!! > 14px