An Introduction to Cost Terms and Purposes Free work cells Cost of goods manufactured, income statement, manufacturing compa Answer cells Consider the following account balances (in thousands) for the Carolina Corporation: Beginnin Carolina Corporation Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor 2 Indirect manufacturing labor Plant insurance 4 Depreciation-plant, building, and equipment 5 Plant utilities 5 Repairs and maintenance-plant 7 Production equipment leasing costs 8 Marketing, distribution, and customer-service costs General and administrative costs Revenues g of 2017 End of 2017 136,400 76,650 190,300 152,250 264,000 216,300 275,100 227,850 101,850 9,450 47,250 27,300 12,600 68,250 131,250 74,550 1,365,000 2 Answer cells must remain in the same location so do not insert/delete columns or rows in the file. Numeric answers must incl B 41. Prepare a schedule for the cost of goods manufactured in 2017. 5 5 7 B 9 O Direct materials costs: 1 Carolina Corporation Schedule of Cost of Goods Manufactured Year Ended December 31, 2017 (in thousands) 2 4 5 Direct materials used 5 Direct manufacturing labor costs 7 Manufacturing overhead costs: B 9 2 B 1 Total manufacturing overhead costs 5 Manufacturing costs incurred during 2017 5 Beginning Work-in-process inventory 7 Total manufacturing costs to account for , 2 B 1 5 Ending Work-in-process inventory Cost of goods manufactured 2. Prepare the income statement for 2017. Carolina Corporation Income Statement Year Ended December 31, 2017 CH2R