QUESTION 3 Sales. Question three: (5 points) The following data from the just completed year are taken from the accounting records of Mason Company $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 Actual manufacturing overhead costs $40,000 Inventories Beginning of Year End of Year Raw materials $3,500 $7,500 Work in process $2,500 Finished goods $10,000 $17,500 $5,000 Required: Prepare a schedule of cost of gols manufactured. Assume all raw materials used in production were direct materials