The following data from the just completed year are taken from the accounting records of mason company: sales $ 524,000 direct labor cost $ 70,000 raw material purchases $ 118,000 selling expenses $ 140,000 administrative expenses $ 63,000 manufacturing overhead applied to work in process $ 90,000 actual manufacturing overhead costs $ 80,000 inventories beginning ending raw materials $ 7,000 $ 15,000 work in process $ 10,000 $ 5,000 finished goods $ 20,000 $ 35,000 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.

Yolo windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars): information on january 1 (beginning): direct materials inventory $ 89 work-in-process inventory 111 finished goods inventory 1,620 information for the year: administrative costs $ 3,610 direct labor 12,900 direct materials purchases 8,210 factory and machine depreciation 11,720 factory supervision 774 factory utilities 940 indirect factory labor 2,880 indirect materials and supplies 688 marketing costs 1,480 property taxes on factory 282 sales revenue 45,800 information on december 31 (ending): direct materials inventory $ 94 work-in-process inventory 138 finished goods inventory 1,430 required: prepare an income statement with a supporting cost of goods sold statement. (enter your answers in thousands of dollars (i.e., 234,000 should be entered as