Consider the following account balances (in thousands) for the

BeneschBenesch

Company:

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Requirements

1. Prepare a schedule for the cost of goods manufactured for

20172017.

2. Revenues for

20172017

were

$ 270$270

million. Prepare the income statement for

20172017.

Requirement 1. Prepare a schedule for the cost of goods manufactured for

20172017.

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.

Benesch Company
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 2017 (in thousands)
Direct materials:
	Beginning inventory, Jan. 1, 2017	$24,000
	Purchases of direct materials	75,000
	Cost of direct materials available for use	99,000
	Ending inventory, Dec. 31, 2017	28,000
Direct materials used			$71,000
Direct manufacturing labor			20,000

Indirect manufacturing costs:
Total indirect manufacturing costs

	Beginning of	End of
Benesch Company	2017	2017
Direct materials inventory	24,000	28,000
Work-in-process inventory	27,000	25,000
Finished-goods inventory	18,000	23,000
Purchases of direct materials		75,000
Direct manufacturing labor		20,000
Indirect manufacturing labor		10,000
Plant insurance		7,000
Depreciationplant, building, and equipment		12,000
Repairs and maintenanceplant		3,000
Marketing, distribution, and customer-service costs		111,000
General and administrative costs		36,000