ar ended December 31, 2016. soods i Data Table e shown in millions actu Inventories: any ds N Beginning Ending 10 $ 12 Raw Materials Work-in-Process 5 21 Der Finished Goods 9 15 $ 237 92 Other information: Sales Revenue Selling and Administrative Expenses Direct Labor Manufacturing Overhead; actual and allocated Materials Purchases 22 17 37 Print Done out fields and then continue to the next question. Lee 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. Assume no indirect materials are used and all amounts are shown in millions Begin by preparing a schedule of cost of goods manufactured. Lee Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2016 (in millions) Beginning Work-in-Process Inventory 5 Direct Materials Used: Beginning Raw Materials Inventory 5 Purchases of Raw Materials 37 Raw Materials Available for Use 42 Ending Raw Materials Inventory -12 Total Direct Materials Used 30 Direct Labor 22 IManuturing Overhead 17 Choose from any list or enter any number in the input fields and then continue to the next question. Lee 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. Assume no indirect materials are used and all am (in millions) Beginning Work-in-Process Inventory 5 Direct Materials Used: Beginning Raw Materials Inventory Purchases of Raw Materials 37 Raw Materials Available for Use Ending Raw Materials Inventory -12 Total Direct Materials Used 30 5 42 Direct Labor 22 17 69 Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account for Ending Work-in-Process Inventory 74 -21 53 Cost of Goods Manufactured Choose from any list or enter any number in the input fields and then continue to the next question. Lee 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. Assume no indirect materials are used and Now prepare an income statement. Lee Company Income Statement Year Ended December 31, 2016 (in millions) Cost of Goods Sold Gross Profit Choose from any list or enter any number in the input fields and then continue to the next question. Lee 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. Assume no indirect materia Income Statement Year Ended December 31, 2016 (in millions) Cost of Goods Sold Gross Profit Net Income (Loss) Choose from any list or enter any number in the input fields and then continue to the next