The total manufacturing costs for the year were $683,000; the cost of goods available for sale totaled $740,000; the unadjusted cost of goods sold totaled $660,000; and the net operating income was $30,000. the company’s underapplied or overapplied overhead is closed to cost of goods sold. required: prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (hint: prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.)