is Question: 7 pts Celley Company has the following information for the year ended December 31, 2016. (Click the icon to view the information.) Use the information to prepare a schedule of cost of goods manufactured and an income statement Schedule of Cost of Goods Manufactured Year Ended December 31, 2016 (in millions) Beginning Work-in-Process Inventory 13 Direct Materials Used: Beginning Raw Materials Inventory 5 Purchases of Raw Materials 42 Raw Materials Available for Use Ending Raw Materials Inventory Direct Materials Used: Direct Labor Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account for Ending Work-in-Process Inventory Cost of Goods Manufactured Now prepare an income statement. Choose from any list or enter any number in the input fields and then continue to the next questi IS QU pis Kelley Company has the following information for the year ended December 31, 2016. (Click the icon to view the information.) Use the information to prepare a schedule of cost of goods manufactured and an income Enuing work-in-process miventory Cost of Goods Manufactured Now prepare an income statement. Kelley Company Income Statement Year Ended December 31, 2016 (in millions) Sales Revenue 237 Cost of Goods Sold: Beginning Finished Goods Inventory Cost of Goods Manufactured Cost of Goods Available for Sale 17 Ending Finished Goods Inventory Cost of Goods Sold Gross Profit Selling and Administrative Expenses Net Income (Loss) Choose from any list or enter any number in the input fields and then continue to the n 3 of 25 (6 complete) 2016. an income statement. Assume no indirect materials are used and all amounts are shown in Data Table Inventories: Ending Beginning 5 $ Raw Materials 10 Work-in-Process 13 18 Finished Goods 5 17 Other information: 237 85 Sales Revenue Selling and Administrative Expenses Direct Labor Manufacturing Overhead; actual and allocated Materials Purchases 34 20 42 Print Done ntinue to the next