12. QRS Manufacturing Company has the following data for 2025 (amounts in millions): View the information. Prepare the schedule of cost of goods manufactured and the cost of goods sold section of the income statement for the year ended December 31, 2025. Begin by preparing the schedule of cost of goods manufactured. Direct Materials Used: Direct Materials Used QRS Manufacturing Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2025 (in millions) Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured CIS Information Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 11 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done $ 8 9 15 14 7 10 35 41 25

12. QRS Manufacturing Company has the following data for 2025 (amounts in millions): View the information. Prepare the schedule of cost of goods manufactured and the cost of goods sold section of the income statement for the year ended December 31, 2025. Begin by preparing the schedule of cost of goods manufactured. Direct Materials Used: Direct Materials Used QRS Manufacturing Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2025 (in millions) Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured CIS Information Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 11 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done $ 8 9 15 14 7 10 35 41 25

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

12. QRS Manufacturing Company has the following data for 2025 (amounts in millions):
View the information.
Prepare the schedule of cost of goods manufactured and the cost of goods sold section of the income statement for the year ended December 31, 2025.
Begin by preparing the schedule of cost of goods manufactured.
Direct Materials Used:
Direct Materials Used
QRS Manufacturing Company
Schedule of Cost of Goods Manufactured
Year Ended December 31, 2025
(in millions)
Total Manufacturing Costs Incurred during the Year
Total Manufacturing Costs to Account For
Cost of Goods Manufactured
CITE
Information
Direct Materials, January 1
Direct Materials, December 31
Work-in-Process Inventory, January 1
Work-in-Process Inventory, December 31
Finished Goods Inventory, January 1
Finished Goods Inventory, December 31
Direct Materials Purchased, including Freight In
Direct Labor
Manufacturing Overhead
Print
Done
$
8
9
15
14
7
10
35
41
25
X

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