Chapter 3, Problem 6E

EXERCISE 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement
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The following data from the just completed year are taken from the accounting records of. Mason Company:
 

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 under applied or overapplied overhead is closed to Cost of Gods sold.
3. Prepare an income statement.