Cost Accounting: Mason Company provided the following data for this year

Mason Company provided the following data for this year:

Sales $ 659,000
Direct labor cost $ 89,000
Raw material purchases $ 136,000
Selling expenses $ 107,000
Administrative expenses $ 49,000
Manufacturing overhead applied to work in process $ 229,000
Actual manufacturing overhead costs $ 209,000
Inventories Beginning Ending
Raw materials $ 8,100 $ 10,300
Work in process $ 5,900 $ 20,700
Finished goods $ 77,000 $ 25,300
Required:
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Prepare a schedule of cost of goods sold. Assume the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
Prepare an income statement.

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