12. TUV Manufacturing Company has the following data for 2024 (amounts in millions): @ (Click the icon to View the information.) Prepare the schedule of cost of goods manufactured and the cost of goods sold section ofthe income statement for the year ended December 31, 2024. Begin by preparing the schedule of cost of goods manufactured. TUV Manufacturing Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2024 (in millions) Direct Materials Used: Data table Direct Materials, January 1 4 Direct Materials, December 31 8 Work-in-Process Inventory, January 1 15 Work-in-Process Inventory, December 31 17 Finished Goods Inventory, January 1 9 Finished Goods Inventory, December 31 13 Direct Materials Purchased, including Freight In 31 Direct Labor 38 Manufacturing Overhead 24Direct Materials Used: Direct Materials Used Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured Now prepare the schedule of cost of goods sold. Now prepare the schedule of cost of goods sold. Cost of Goods Available for Sale Cost of Goods Sold Beginning Direct Materials Beginning Finished Goods Inventory Beginning Work-in-Process Inventory ' 02 _ Cost of Goods Manufactured r Direct Labor Direct Materials Available for Use c: Ending Direct Materials '0 !r Ending Finished Goods Inventory VI