Please do not give solution in image format The following data from the just completed year are taken from the accounting records of Mason Company:$ 655,000$ 89,000$ 130,000$ 106,000$ 43,000$ 224,000$ 206,000SalesDirect labor costRaw material purchasesSelling expensesAdministrative expensesManufacturing overhead applied to work in processActual manufacturing overhead costsInventoriesRaw materialsWork in processFinished goodsBeginning$ 8,900$ 5,500$ 78,000Ending$ 10,900$ 20,100$ 25,200Required: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. AssGoods Sold.at the company's underapplied or overapplied erhead is closed to3. Prepare an income statement.Complete this question by entering your answers in the tabs below.of Required 1 Required 2Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.Direct materials:Total raw materials availableDirect materials used in productionCost of goods manufacturedMason CompanySchedule of Cost of Goods ManufacturedTotal manufacturing costs added to productionTotal manufacturing costs to account forRequired 3Required 1 Required 2Complete this question by entering your answers in the tabs below.Required 1 Required 2Required 3Mason CompanySchedule of Cost of Goods SoldPrepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Costof Goods Sold.Required 3Prepare an income statement.< Required 1Selling and administrative expenses:Mason CompanyIncome Statement< Required 1$Required 2 >< Required 200Required 3 >00Required 3 >

SCHEDULE OF COST OF GOODS MANUFACTUREDSchedule Of Cost Of Goods Manufactured are those costs which…

The following data from the just completed year are taken from the accounting records of Mason Company: $ 655,000 $ 89,000 $ 130,000 $ 106,000 Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods Beginning $ 8,900 $ 5,500 $ 78,000 Ending $ 10,900 $ 20,100 $ 25,200 $ 43,000 $ 224,000 $ 206,000 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.

The following data from the just completed year are taken from the accounting records of Mason Company: $ 655,000 $ 89,000 $ 130,000 $ 106,000 Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods Beginning $ 8,900 $ 5,500 $ 78,000 Ending $ 10,900 $ 20,100 $ 25,200 $ 43,000 $ 224,000 $ 206,000 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.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter1: Introduction To Cost Accounting

Section: Chapter Questions

Problem 9P: Glasson Manufacturing Co. produces only one product. You have obtained the following information...

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