Consider the following account balances $($in thousands$)$ for the McKnight Company:

$($Click the icon to view the account balances$)$

Required

Prepare a schedule of cost of goods manufactured for $2022.$

Revenues in $2022$ were $$315$ million. Prepare the $2022$ statement of comprehensive income.

Requirement $1.$ Prepare a schedule of cost of goods manufactured for $2022.$

McKnight Company

Schedule of Cost of Goods Manufactured

For the Year Ended December $31,2022($in thousands$)$

Direct materials costs:

Beginning inventory, Jan $1,2022$

Purchases of direct materials

Cost of direct materials available for use

Ending inventory, Dec $31,2022$

Direct materials used

Direct manufacturing labour costs

Indirect manufacturing costs:

Indirect manufacturing labour costs

Plant insurance

Depreciation$-$plant, building, and equipment

Repairs and maintenance$-$plant

Manufacturing costs incurred during $2022$

Add:

Total manufacturing costs to account for

Less: Ending work$-$in$-$process inventory, Dec $31,2022$

Cost of goods manufactured