Please do not give solution in image format thanku The following data from the just completed year are taken from the accounting records of Mason Company.$ 659,000$ 54,000$ 133,000$ 103,000$ 40,000222,000SalesDirect labor costRaw material purchasesSelling expensesAdministrative expensesManufacturing overhead applied to work in processActual manufacturing overhead costsInventoriesRaw materials.Work in processFinished goodsBeginning$1,600$5,400$ 73,000Ending$ 10,700$ 20,100$ 25,100$$ 202,000Required:1 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost ofGoods Sold3. Prepare an income statement.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3Prepare a schedule of cost of goods manufactured, Assume all raw materials used in production were direct materials. Required 1 Required 2 Required 3Prepare 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:Beginning raw materials inventoryAdd: Purchases of raw materialsTotal raw materials availableLess Ending raw materials inventoryDirect materials used in productionManufacturing overheadTotal manufacturing costs added to productionTotal manufacturing costs to account forLess Beginning work in process inventoryCost of goods manufacturedRequired 11 Required 2Required 31Mason CompanySchedule of Cost of Goods SoldRequired 1 Required 2Prepare 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 1Mason CompanyIncome StatementSelling and administrative expensesSRequired 2 >< Required 2Required 3 >0000

SCHEDULE OF COST OF GOODS MANUFACTURED Schedule Of Cost Of Goods Manufactured are those Cost Which…

The following data from the just completed year are taken from the accounting records of Mason Company. $ 659,000 $ 54,000 $ 133,000 $ 103,000 $ 40,000 $ 222,000 $ 202,000 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 $1,600 $5,400 $ 73,000 Ending $ 10,700 $ 20,100 $ 25,100 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. $ 659,000 $ 54,000 $ 133,000 $ 103,000 $ 40,000 $ 222,000 $ 202,000 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 $1,600 $5,400 $ 73,000 Ending $ 10,700 $ 20,100 $ 25,100 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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