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Business, 01.10.2019 01:30 aylineorozco836
The following data from the just completed year are taken from the accounting records of mason company: sales $ 654,000 direct labor cost $ 88,000 raw material purchases $ 135,000 selling expenses $ 107,000 administrative expenses $ 42,000 manufacturing overhead applied to work in process $ 200,000 actual manufacturing overhead costs $ 225,000 inventories beginning ending raw materials $ 8,800 $ 10,800 work in process $ 6,000 $ 20,400 finished goods $ 79,000 $ 25,000 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.
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The following data from the just completed year are taken from the accounting records of mason compa...
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