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I'm confused on the calculations for sales, cost of goods sold, etc. If you could please put what you added and subtracted so I can understand. Thank you.

Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 211,000 $ 260,000 2 $ 155,000 $ 371,800 $ 354,000 Inventory balances at the beginning and end of the year were as follows: Beginning Ending Raw materials $ 52,000 $ 33,000 Work in process 7 $ 28,000 Finished goods $ 39,000 7 The total manufacturing costs added to production for the year were $675,000, the cost of goods available for sale totaled $740.000, the unadjusted cost of goods sold totaled $664,000, and the net operating income was $32,000. The company's underapplied or overopplied 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) Complate this question by entering your answers in the tabs below. ware 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) Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare an income statement for the year Superior Company Income Statement Sales Cont of goods sold Gross margin Selling and administrative expenses Selling expenses $ Administrative expenses $ 1.045,000 647,000 300,000 211,000 155,000 386.000 32.000 Not operating income $ COOS Schedule > Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Ending finished goods inventory $ 39.000 Adjusted cost of goods sold Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Beginning work in process inventory Direct materials: Beginning raw materials inventory $ 52,000 Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured

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