Consider the following account balances (in thousands) fd (Click the icon to view the account balances.) Data Table factured for 2017. 1.000. Prepare the income statement for 2017. Total manufacturing overhead costs Manufacturing costs incurred during 2017 Beginning of End of 2017 2017 $ 132,000 $ 68,000 169,000 147,000 250,000 204,000 Total manufacturing costs to account for 255,000 216,000 98,000 Cost of goods manufactured Scottin Corporation Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciation plant, building, and equipment Plant utilities Repairs and maintenance-plant Equipment leasing costs Marketing, distribution, and customer-service costs General and administrative costs gloss.) Requirement 2. Revenues (in thousands) for 2017 were Scottin Corporation Income Statement For the Year Ended December 31, 20 5,000 44,000 23,000 10,000 69,000 Cost of goods sold: 127,000 65,000 Print Done Choose from any list or enter any number in the input ? Save for Later 0 Consider the following account balances (in thousands) for the Scottin Corporation: Click the icon to view the account balances. Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017, 2. Revenues (in thousands) for 2017 were $1,000,000. Prepare the income slaternent for 2017 Requirement 1. Prepare a schedule for the cost of goods manufactured for 2017. Start with the direct materials and labor costs, then manufacturing averhead costs, and complete the schedule by calculating cost of goods manufactured. Scottin Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials Beginning inventory, Jan 1, 2017 132.000 Purchases of direct materials 255.000 Direct materials used Direct manufacturing labor Manufacturing overhead costs: Total manufacturing overhead costs Manufacturing costs incurred during 2017 Total manufacturing costs to account for Choose from any list or enter any number in the input fields and then continue to the next question. 2 Save for Later Consider the following account balances (in thousands) for the Scottin Corporation: Click the icon to view account balances.) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues (in thousands) for 2017 were $1,000,000. Prepare the income statement for 2017 Total manufecturing overhead costs Manufacturing costs incurred during 2017 Total manufacturing costs to mocount for Cost of goods manufactured Requirement 2. Revenues thousands) for 2017 were $1,000,000. Prepare the income statement for 2017. (Use a minus sign or parentheses for an operating loss.) Scottin Corporation Income Statement For the Year Ended December 31, 2017 (In thousands) Cost of goods sold: Cost of goods sold Operating costs: Total aperating costs Operating incomellos) Choose from any list or enter any number in the input fields and then continue to the next question. Save for Later