In 2016, sports newscaster Erin Andrews and former wrestler Hulk Hogan were both awarded substantial monetary damages after winning their respective cases involving invasion of privacy. It is believed that the juries in both cases wanted to sanction the defendants by sending a clear message that individual’s privacy must be respected regardless of who they are. The type of monetary damages awarded in these two cases are described as:

Nominal damages

Compensatory damages

Punitive damages

Consequential damages

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.