The following items (in millions) pertain to Chester Corporation: Chesters manufacturing costing system uses a three- part

The following items (in millions) pertain to Chester Corporation: Chester’s manufacturing costing system uses a three- part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs.

Required
Prepare an income statement and a supporting schedule of cost of goods manufactured.

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For Specific Date For Year 2013 Work-in-process inventory, Jan. 1, 2013 Direct materials inventory, Dec. 31, 2013 Finished goods inventory, Dec. 31, 2013 Accounts payable, Dec. 31, 2013 Accounts receivable, Jan. 1, 2013 Work-in-process inventory Dec. 31, 2013 Finished goods inventory, Jan 1, 2013 Accounts receivable, Dec, 31, 2013 Accounts payable, Jan. 1,2013 Direct materials inventory, Jan. 1, 2013 Plant utilities Indirect manufacturing labor Depreciation-plant and equipment Revenues Miscellaneous manufacturing overhead Marketing, distribution, and customer-service costs Direct materials purchased Direct manufacturing labor Plant supplies used 26 19 21 54 17 97 40 45 30 Property taxes on plant