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Business, 23.07.2020 21:01 warnene17

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. Inventory Balances: Begin Ending
Work-in-Process $5 $16
Finished Goods 12 15

Other information:
Sales Revenue $253
Selling and Administrative Expenses 85
Direct Labor 62
Manufacturing Overhead; actual and allocated 20
Direct Materials Used 31

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