Consider the following account balances (in thousands) for the Benesch Company: (Click the icon to view the account balances.) - Requirements 1. Prepare a schedule for the cost of goods manufactured for 2020. 2. Revenues for 2020 were $270 million. Prepare the income statement for 2020. Requirement 1. Prepare a schedule for the cost of goods manufactured for 2020. 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. Direct materials: Benesch Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2020 (in thousands) Direct materials used Direct manufacturing labor 2-38 (similar 1 of 4 Conside Beginning inventory, Jan. 1, 2020 (Clic Beginning work-in-process inventory, Jan. 1, 2020 Cost of direct materials available for use Cost of goods manufactured Require Depreciation-plant, building, and equipment Begin by of goods Ending inventory, Dec. 31, 2020 Ending work-in-process inventory, Dec. 31, 2020 Indirect manufacturing labor Direct m Miscellaneous manufacturing overhead costs Plant insurance any: 120. ). Start with the di Data table Benesch Company Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Beginning of 2020 End of 2020 25,000 29,000 23,000 21,000 12,000 24,000 76,000 27,000 Indirect manufacturing labor Plant insurance 16,000 8,000 Depreciation-plant, building, and equipment 17,000 Repairs and maintenance-plant 5,000 Marketing, distribution, and customer-service costs 96,000 General and administrative costs 28,000