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 Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....
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Question
5
![Requirement
Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2020.
Begin 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:
C
Direct materials used
Direct manufacturing labor costs
Data table
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
Print
Done
$ 17
11
71
27
6
59
$ 310
95
60
6
30
940
265
11
32
62](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a368026-7aef-41f7-992b-5b1e3bd9bc49%2Fe121eed5-3062-4fd1-82da-329b8998bd36%2Fifseee_processed.png&w=3840&q=75)
Transcribed Image Text:Requirement
Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2020.
Begin 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:
C
Direct materials used
Direct manufacturing labor costs
Data table
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
Print
Done
$ 17
11
71
27
6
59
$ 310
95
60
6
30
940
265
11
32
62
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