equirement repare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2020. egin by preparing the schedule of cost of goods manufactured (in millions). Start with the direct materials and labor costs, then indirect man Benesch Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2020 (in millions) Direct materials costs: Direct materials used Direct manufacturing labor costs ▼ For Specific Date Direct materials inventory, January 1, 2020 Work-in-process inventory, January 1, 2020 Finished goods inventory, January 1, 2020 Direct materials inventory, December 31, 2020 Work-in-process inventory, December 31, 2020 Finished goods inventory, December 31, 2020 For Year 2020 Purchases of direct materials Direct manufacturing labor Depreciation-plant and equipment Plant supervisory salaries Miscellaneous plant overhead Revenues Marketing, distribution, and customer-service costs Plant supplies used Plant utilities Indirect manufacturing labor $ 17 11 71 27 6 59 $ 310 95 60 6 30 940 265 11 32 62

equirement repare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2020. egin by preparing the schedule of cost of goods manufactured (in millions). Start with the direct materials and labor costs, then indirect man Benesch Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2020 (in millions) Direct materials costs: Direct materials used Direct manufacturing labor costs ▼ For Specific Date Direct materials inventory, January 1, 2020 Work-in-process inventory, January 1, 2020 Finished goods inventory, January 1, 2020 Direct materials inventory, December 31, 2020 Work-in-process inventory, December 31, 2020 Finished goods inventory, December 31, 2020 For Year 2020 Purchases of direct materials Direct manufacturing labor Depreciation-plant and equipment Plant supervisory salaries Miscellaneous plant overhead Revenues Marketing, distribution, and customer-service costs Plant supplies used Plant utilities Indirect manufacturing labor $ 17 11 71 27 6 59 $ 310 95 60 6 30 940 265 11 32 62

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 5PA: Wachowski Company reported these cost data for the year 2017. Use the data to complete the following...

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