Question: Someone PLEASE correct what i got wrong with the right answer! thank you!! Superior Company provided the following data for the year ended December 31

Someone PLEASE correct what i got wrong with the right answer! thank you!!
Someone PLEASE correct what i got wrong with the right answer! thank

Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 213,000 $ 264,000 7 Purchases of raw materials Direct labor Administrative expenses $ 158,000 $367,000 Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 350,000 Inventory balances at the beginning and end of the year were as follows: Beginning $ 57,000 Ending $ 31,000 Rav materials Work in process Finished goods ? $ 32,000 $ 32,000 2 The total manufacturing costs added to production for the year were $685,000; the cost of goods available for sale totaled $745,000; the unadjusted cost of goods sold totaled $664,000; and the net operating income was $35,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Answer is not complete. Complete this question by entering your answers in the tabs below. Income COGS Statement Schedule COGM Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Beginning finished goods inventory $ 713,000 Less: Ending finished goods inventory Cost of goods available for sale 32.000 745,000 Less Ending finished goods inventory Unadjusted cost of goods sold 81,000 664,000 10000 **000

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