شرح مسألة كاملة لل Cost Statement

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   • شرح تفاصيل ال cost statement  
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The following items (in millions) pertain to Chan Corporation:
Work-in-process inventory Jan. 1, 2024 10
Plant utilities 5
Direct materials inventory, Dec. 31, 2024. 5
Indirect manufacturing labor 20
Finished goods inventory Dec. 31, 2024. 12
Depreciation – plant and equipment 9
Accounts payable, Dec. 31, 2024 20
Revenues 350
Accounts receivable, Jan. 1, 2024 50
Miscellaneous manufacturing overhead 10
Work-in-process inventory Dec. 31, 2024 2
Marketing, distribution and customer service costs 90
Finished goods inventory Jan. 1, 2024 40
Direct materials purchased 80
Accounts receivable, Dec. 31, 2024 30
Direct manufacturing labor 40
Accounts payable, Jan. 1, 2024 40
Plant supplies used 6
Direct materials inventory, Jan. 1, 2024 30
Property taxes on plant 1
Chan's manufacturing costing system uses a three-part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs.
Required:
Prepare an income statement and a supporting schedule of cost of goods manufactured.

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