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Consider the following account balances (in thousands) for the Rouse Company: : (Click the icon to view the account balances.) Requirements 1. Prepare a schedule
Consider the following account balances (in thousands) for the Rouse Company: : (Click the icon to view the account balances.) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2013. 2. Revenues for 2013 were $265 million. Prepare the income statement for 2013 Requirement 1. Prepare a schedule for the cost of goods manufactured for 2013. 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. Rouse Company Schedule of Cost of Goods Manufactured Year Ended December 31, 2013 in thousands) Direct materials: Direct materials used Beginning of 2013 End of 2013 $ 27,000 $ 28,000 29,000 22,000 16,000 25,000 73,000 Direct materials inventory Work-in-process inventory Finished goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciationplant, building, and equipment Repairs and maintenance-plant Marketing, distribution, and customer-service costs General and administrative costs 24,000 18,000 6,000 17,000 2,000 111,000 36,000
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