Data Table Beginning of 2020 End of 2020 27,000 29,000 28,000 24,000 16,000 21,000 70,000 25,000 Smith Company Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciation-plant, building, and equipment Repairs and maintenance-plant Marketing, distribution, and customer-service costs General and administrative costs 11,000 7,000 10,000 4,000 111,000 36,000 Print Done 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 Smith Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2020 (in thousands) Direct materials Direct materials used Direct manufacturing labor