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Hanson Company has the following information for the year ended December 31, 2024. (Click the icon to view the information.) Use the information to
Hanson Company has the following information for the year ended December 31, 2024. (Click the icon to view the information.) 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. Hanson Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2024 (in millions) Cost of Goods Manufactured Data table Inventory balances: Work-in-Process Finished Goods Other information: Beginning Ending 12 17 8 16 Sales Revenue Selling and Administrative Expenses Direct Labor Manufacturing Overhead; actual and allocated Direct Materials Used - 22225 310 92
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