Phil Carter, President of Carter Computer Components, Corp. has the option of shipping computer transformers from its Singapore plant via container ship or airfreight. The typical shipment has a value of $75,000. A container ship takes 24 days and costs $5,000; airfreight takes 1 day and costs $8,000. Holding cost is estimated to be 40% in either case. How should shipments be made

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.