The Hardville Corporation has the following account balances (in millions): E (Click the icon to view the account balances.) Prepare a statement of comprehensive income and a supporting schedule of cost of goods manufactured for the year ended December 31, 2019. Indirect manufacturing costs: Depreciation-plant, building, and equipment 97 Indirect manufacturing labour 79 Miscellaneous plant overhead 39 Account balances Plant supervisory salaries Plant utilities 39 Plant supplies used 272 11 For Specific Date For Year 2019 Direct materials, January 1, 2019 $ 12 Purchases of direct materials $ 338 Add: Manufacturing costs incurred during 2019 Work in process, January 1, 2019 11 Direct manufacturing labour 102 Beginning work-in-process inventory, Jan 1, 2019 11 Finished goods, January 1, 2019 89 Depreciation-plant, building, and equipment 97 Deduct: Total manufacturing costs to account for Plant supervisory salaries 7 Cost of goods manufactured Direct materials, December 31, 2019 22 Miscellaneous plant overhead 39 Work in process, December 31, 2019 7 Revenues 1,030 Complete the statement of comprehensive income. (Enter amounts in millions as pro Finished goods, December 31, 2019 66 Marketing, distribution, and customer-service costs 299 Hardville Corporation Plant supplies used 11 Statement of Comprehensive Income Plant utilities 39 Indirect manufacturing labour 79
The Hardville Corporation has the following account balances (in millions): E (Click the icon to view the account balances.) Prepare a statement of comprehensive income and a supporting schedule of cost of goods manufactured for the year ended December 31, 2019. Indirect manufacturing costs: Depreciation-plant, building, and equipment 97 Indirect manufacturing labour 79 Miscellaneous plant overhead 39 Account balances Plant supervisory salaries Plant utilities 39 Plant supplies used 272 11 For Specific Date For Year 2019 Direct materials, January 1, 2019 $ 12 Purchases of direct materials $ 338 Add: Manufacturing costs incurred during 2019 Work in process, January 1, 2019 11 Direct manufacturing labour 102 Beginning work-in-process inventory, Jan 1, 2019 11 Finished goods, January 1, 2019 89 Depreciation-plant, building, and equipment 97 Deduct: Total manufacturing costs to account for Plant supervisory salaries 7 Cost of goods manufactured Direct materials, December 31, 2019 22 Miscellaneous plant overhead 39 Work in process, December 31, 2019 7 Revenues 1,030 Complete the statement of comprehensive income. (Enter amounts in millions as pro Finished goods, December 31, 2019 66 Marketing, distribution, and customer-service costs 299 Hardville Corporation Plant supplies used 11 Statement of Comprehensive Income Plant utilities 39 Indirect manufacturing labour 79
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The Hardville Corporation has the following account balances (in millions):
E (Click the icon to view the account balances.)
Prepare a statement of comprehensive income and a supporting schedule of cost of goods manufactured for the year ended December 31, 2019.
Indirect manufacturing costs:
Depreciation-plant, building, and equipment
97
Indirect manufacturing labour
79
Miscellaneous plant overhead
39
Account balances
Plant supervisory salaries
7
Plant utilities
39
Plant supplies used
11
272
For Specific Date
For Year 2019
Direct materials, January 1, 2019
$ 12
Purchases of direct materials
$ 338
Add:
Manufacturing costs incurred during 2019
Work in process, January 1, 2019
11
Direct manufacturing labour
102
Beginning work-in-process inventory, Jan 1, 2019
11
Finished goods, January 1, 2019
89
Depreciation-plant, building, and equipment
97
Deduct: Total manufacturing costs to account for
Plant supervisory salaries
7
Direct materials, December 31, 2019
22
Miscellaneous plant overhead
39
Cost of goods manufactured
Work in process, December 31, 2019
7
Revenues
1,030
Complete the statement of comprehensive income. (Enter amounts in millions as pro
Finished goods, December 31, 2019
66
Marketing, distribution, and customer-service costs
299
Hardville Corporation
Plant supplies used
11
Statement of Comprehensive Income
Plant utilities
39
Indirect manufacturing labour
79
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