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the following data from the just completed year are taken from the accounting records of...

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Accounting

The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 657,000 Direct labor cost $ 87,000 Raw material purchases $ 136,000 Selling expenses $ 103,000 Administrative expenses $ 41,000 Manufacturing overhead applied to work in process $ 224,000 Actual manufacturing overhead costs $ 202,000 Inventories Beginning Ending Raw materials $ 8,400 $ 10,300 Work in process $ 5,800 $ 20,500 Finished goods $ 78,000 $ 25,300 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 a

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