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

Cole Company	Beginning of 2017	End of 2017
Direct materials inventory	23,000	24,000
Work-in-process inventory	22,000	21,000
Finished-goods inventory	15,000	27,000
Purchases of direct materials		76,000
Direct manufacturing labor		29,000
Indirect manufacturing labor		17,000
Plant insurance		9,000
Depreciationplant, building, and equipment		12,000
Repairs and maintenanceplant		3,000
Marketing, distribution, and customer-service costs		95,000
General and administrative costs		36,000

Requirements

1. Prepare a schedule for the cost of goods manufactured for 2017.

2. Revenues for 2017 were $270 million. Prepare the income statement for

2017.

Requirement 1.

Prepare a schedule for the cost of goods manufactured for 2017.

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.