Chester's manufacturing costing system uses a three-part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs.

Requirement

Prepare an income statement and a supporting schedule of cost of goods manufactured.

For Specific Date			For Year 2014
Work-in-process inventory, Jan. 1, 2014	$13		Plant utilities	$2
Direct materials inventory, Dec. 31, 2014	5		Indirect manufacturing labor	28
Finished goods inventory, Dec. 31, 2014	11		Depreciationplant and equipment	7
Accounts payable, Dec. 31, 2014	29		Revenues	359
Accounts receivable, Jan. 1, 2014	51		Miscellaneous manufacturing overhead	17
Work-in-process inventory, Dec. 31, 2014	1		Marketing, distribution, and customer-service costs	94
Finished goods inventory, Jan 1, 2014	46		Direct materials purchased	86
Accounts receivable, Dec. 31, 2014	39		Direct manufacturing labor	47
Accounts payable, Jan. 1, 2014	41		Plant supplies used	9
Direct materials inventory, Jan. 1, 2014	37		Property taxes on plant	4