Cost of goods manufactured. Consider the following account balances (in thousands) for the Canseco Company:

If you want to use Excel to solve this problem, go to the Excel lab at www.prenhall.com/harngren/cost13e and download the template for Exhibit 2-8.

1. Prepare a schedule for the cost of goods manufactured for 2009.

2. Revenues for 2009 were $300 million. Prepare the income statement for2009.

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B Beginning of 2009 A 1 Canseco Company End of 2009 $26,000 20,000 23,000 3 Direct materials inventory 4 Work-in-process inventory 5 Finished goods inventory 6 Purchases of direct materials $22,000 21,000 18,000 7 Direct manufacturing labor 8 Indirect manufacturing labor 9 Plant insurance 10 Depreciation -- plant, building, and equipment 11 Repairs and maintenance - plant 12 Marketing, distribution, and customer-service costs 13 General and administrative costs 25,000 15,000 9,000 11,000 93,000 29,000