the following data from the just completed year are taken from the accounting records of mason company: sales $ 657,000 direct labor cost $ 90,000 raw material purchases $ 131,000 selling expenses $ 109,000 administrative expenses $ 46,000 manufacturing overhead applied to work in process $ 221,000 actual manufacturing overhead costs $ 210,000 inventories beginning ending raw materials $ 8,400 $ 10,500 work in process $ 5,700 $ 20,600 finished goods $ 77,000 $ 25,600 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.