2-34 - 80 Cost of direct materials available for use 110...

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Kyle Dunscomb Cost Accounting 23-Feb-10 p 2-34 PANAL A: INCOME STATEMENT Chan Corporation Income Statement For the Year Ended December 31, 2009 (in millions) Revenues 350 Cost of goods sold: Beginning finished goods inventory, January 1, 2009 $40 Cost of goods manufactured 204 Cost of goods available for sale 244 Ending finished goods invventory, December 31, 2009 12 Cost of goods sold 232 Gross margin 118 Operating costs: Marketing, distribution, and customer-service cost 90 Total operating cost 90 Operating income $28 PANEL B: COST OF GOODS MANUFACTURED Chan Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2009 (in millions) Direct materials: Beginning inventory, January 1, 2009 $30 Purchases of direct materials
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Unformatted text preview: 80 Cost of direct materials available for use 110 Ending inventory, December 31, 2009 5 Direct materials used $105 Direct manufacturing labor 40 Manufacturing overhead costs: Indirect manufacturing labor $20 Miscellaneous manufacturing overhead 10 Depreciation--plant, building, and equipment 9 Plant utilities 5 Property taxes on plant 1 Plant supplies used 6 Total manufacturing overhead costs 51 Manufacturing costs incurred during 2009 196 Beginning work-in-process inventory, January 1, 2009 10 Total manufacturing costs to account for 206 Ending work-in-process inventory December 31, 2009 2 Cost of goods manufactured $204...
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