Alderman Company: Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues for 2017 were $305 million. Prepare the income statement for 2017 37,000 0 Data Table Alderman Company Direct materials inventory Beginning of 2017 26,000 29,000 17,000 Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance End of 2017 28,000 24,000 25,000 77,000 23,000 13,000 9,000 11,000 4,000 97,000 22,000 Depreciation-plant, building, and equipment Repairs and maintenance-plant Marketing, distribution, and customer-service costs General and administrative costs Print Done and then continue to the next question Consider the following account balances in thousands) for the Alderman Company Requirements Click the lon to view the account balances.) 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues for 2017 were $305 million. Prepare the income statement for 2017 Requirement 1. Prepare a schedule for the cost of goods manufactured for 2017 Begin by preparing the schedule of cost of goods manufactured in thousands). Start with the direct materials and labor costs, then indirect manufacturing costs, and complete the schedule by calculating cost of goods manufactured Alderman Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 in thousands) Direct materials Beginning inventory. Jan 1, 2017 28,000 Purchases of direct materials Cost of direct materials available for use Ending inventory, Dec 31, 2017 Direct materials used 75,000 Direct manufacturing labor 23,000 Indirect manufacturing costs Indirect manufacturing labor Pantrance 000 Depreciation plant and equipment 11,000 Repairs and maintenance plant Total indirect manufacturing costs Manufacturing costs incurred during 2017 Beginning work in process inventory, Jan 1, 2017 Total manufacturing costs to account for Ending work in process inventory, Dec 31, 2017 Consider the following account balances in thousands) for the Alderman Company Requirements 1. Prepare a sh ort cost of matured for 2017 2. Revenue for 2017 were $305 on Prepare the income talent for 2017 Beginning w o mento 2017 Total manufacturing costs to account for Ending work in process inventory Dec 31, 2017 Cost of goods manufactured Requirement 2. Revenues for 2017 5300 millionPrepare the income valement for 2017 (Use parentheses or a minus sign for operating losses) Alderman Company Income Statement For the Year Ended December 31, 2017 in thousands) Cost of goods available for sale 305.000 Cost of goods sold Beginning finished goods, Jan 1, 2017 Cost of goods manufactured Ending finished goods, Dec 31, 2017 Cost of goods sold Operating costs