Please do not give solution in image format thanku Complete this question by entering your answers in the tabs below.Required 1 Required 2Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.Mason CompanySchedule of Cost of Goods ManufacturedDirect materials:Total raw materials availableRaw materials used in productionTotal manufacturing costs.Cost of goods manufacturedRequired 3.complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Costof Goods Sold.Mason CompanySchedule of Cost of Goods SoldRequired 1 Required 2 Required 3Prepare an income statement.Complete this question by entering your answers in the tabs below.Mason CompanyIncome StatementSelling and administrative expenses.< Required 1< Required 2Required 3 >00Required 3 > The following data from the just completed year are taken from the accounting records of Mason Company:Sales.Direct labor costRaw material purchasesSelling expensesAdministrative expensesManufacturing overhead applied to work in processActual manufacturing overhead costsInventoriesRaw materialsWork in processFinished goodsBeginning$ 8,000$ 5,800$ 73,000Required 1Ending$ 10,900$ 20,800$ 25,900$654,00086,000$133,000$ 108,000$ 43,000$ 203,000$230,000Required:1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost ofGoods Sold.3. Prepare an income statement.Required 2 Required 3$Complete this question by entering your answers in the tabs below.Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.

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: 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 $ 8,000 $ 5,800 $ 73,000 Ending $ 10,900 $ 20,800 $ 25,900 $654,000 $ 86,000 $ 133,000 $ 108,000 $ 43,000 $ 203,000 $ 230,000 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. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.

The following data from the just completed year are taken from the accounting records of Mason Company: 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 $ 8,000 $ 5,800 $ 73,000 Ending $ 10,900 $ 20,800 $ 25,900 $654,000 $ 86,000 $ 133,000 $ 108,000 $ 43,000 $ 203,000 $ 230,000 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. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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