Question

Use the information to prepare a schedule of cost of goods manufactured and an income statement Assume no indirect materials are used and all amounts are shown in millions Begin by preparing a schedule of cost of goods manufactured. Data Table Kelley Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 in milions) Beginning Ending Inventory balances: Work-in-Process Finished Goods Other information: Sales Revenue Seling and Administrative Expenses Direct Labor Manufacturing Overhead, actual and allocated Direct Materials Used Print Done Beginning Work in Process inventory Director Drect Mat Used Ending Work in Process inventory Manufacturing Overhead Allocated Total Manufacturing Costs incurred during the Year Total Manufacturing Cool to Account for Choose from any list or enter any number in the input fields and then continue to the next question

Answer 1

Kelly Company Statement of Cost of Goods Manufactured Year Ended December 31, 2018 (in millions) Beginning work in Process Direct material used Direct Labour Manufacturing Overhead Allocated Total Manufacturing Costs incurred during year Total Manufacturing Costs to account for Less: Ending work in Process Cost of Goods Manufactured le

3101 Kelly Company Income statement Year Ended December 31, 2018 (in millions) Sales Revenue Cost of goods sold Beginning Finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending Finished goods inventory Cost of goods sold Gross profit Selling and administrative expenses Net Income 151