i need the answer quickly Mason Company provided the following data for this year:SalesDirect labor costRaw material purchasesSelling expensesAdministrative expensesManufacturing overhead applied to workin processActual manufacturing overhead costsInventories Beginning Ending$Raw materials $ 8,10010,900$$ 5,10020,400Work inprocessFinishedgoods$$70,00025,200Required:1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were directmaterials.2. Prepare a schedule of cost of goods sold. Assume the company's underapplied or overapplied overhead is closed toCost of Goods Sold.3. Prepare an income statement.Required Required Required123Complete this question by entering your answers in the tabs below.Prepare a schedule of cost of goods manufactured. Assume all raw materials used inproduction were direct materials.Direct materials:Mason CompanySchedule of Cost of Goods ManufacturedTotal raw materials availableDirect materials used in production$652,000$ 88,000Total manufacturing costs added toproduction$138,000$105,000$ 50,000$227,000$210,000Total manufacturing costs to accountforCost of goods manufactured< Required 1Required 2 >00

The cost of goods manufactured includes the cost of goods that are finished during the period. The…

the following data 1or this year Sales Direct labor cost Raw material purchases. Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 652,000 $ 88,000 $ 138,000 $ 105,000 $50,000 $ 227,000 $ 210,000 Inventories Beginning Ending. $ Raw materials $ 8,100 10,900 Work in $ 20,400 process Finished goods $ 25,200 Required: Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct $ 5,100 $ 70,000

the following data 1or this year Sales Direct labor cost Raw material purchases. Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 652,000 $ 88,000 $ 138,000 $ 105,000 $50,000 $ 227,000 $ 210,000 Inventories Beginning Ending. $ Raw materials $ 8,100 10,900 Work in $ 20,400 process Finished goods $ 25,200 Required: Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct $ 5,100 $ 70,000

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 17E: Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the...

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