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Kelley Company has the following information for the year ended December 31, 2018. (Click the icon to view the information.) Use the information to
Kelley Company has the following information for the year ended December 31, 2018. (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. Kelley Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 (in millions) Data Table Inventory balances: Beginning Ending 9 18 13 14 Cost of Goods Manufactured Work-in-Process Finished Goods Other information: Sales Revenue Selling and Administrative Expenses Direct Labor Manufacturing Overhead; actual and allocated Direct Materials Used Print Done $ 420 25 48 62 24
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