< > ho Student Portal | Main ACC-360-0500 = Homework: ACC-360 Topic 1 Assignment Consider the following account balances (in thousands) for the Smith Company: (Click the icon to view the account balances.) mathxl.com ACC-350 Tople 1. Overview of Cost Accounting Question 4, P2-37 (similar to) Part 1 of 4 Requirements + M Do Homework ACC-360 Taple 1 Assignment Stephanirae Terrazas 01/16/22 10:58 AM HW Score: 15%, 15 of 100 points O Points: 0 of 15 Save 1. Prepare a schedule for the cost of goods manufactured for 2017. 2. Revenues for 2017 were $265 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. Smith Company Direct materials: Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials used Direct manufacturing labor Help me solve this Etext pages Get more help - Data table Smith Company Beginning of 2017 End of 2017 Direct materials inventory Work-in-process Inventory Finished-goods inventory 23,000 29,000 27,000 20,000 10,000 22,000 Purchases of direct materials Direct manufacturing labor 78.000 21,000 Indirect manufacturing labor 13,000 Plant insurance 8,000 Depreciation-plant, building, and equipment 16.000 Repairs and maintenance-plant 5,000 Marketing, distribution, and customer-service costs 90,000 General and administrative costs 32,000 Print Done x Clear all Check answer < > ho mathxl.com Student Portal | Main ACC-350 Tople 1. Overview of Cost Accounting ACC-360-0500 = Homework: ACC-360 Topic 1 Assignment Consider the following account balances (in thousands) for the Smith Company: (Click the icon to view the account balances.) Question 4, P2-37 (similar to) Part 1 of 4 Requirements + M Do Homework ACC-360 Taple 1 Assignment Stephanirae Terrazas 01/16/22 10:59 AM HW Score: 15%, 15 of 100 points O Points: 0 of 15 Save 1. Prepare a schedule for the cost of goods manufactured for 2017. 2. Revenues for 2017 were $265 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. Smith Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials: Beginning inventory, Jan. 1, 2017 Beginning work-in-process inventory, Jan. 1, 2017 Direr Cost of direct materials available for use Cost of goods manufactured Depreciation-plant, building, and equipment Ending inventory, Dec. 31, 2017 Ending work-in-process inventory, Dec. 31, 2017 Indirect manufacturing labor Miscellaneous manufacturing overhead costs Plant insurance Purchases of direct materials Help Repairs and maintenance-plant Data table Smith Company Beginning of 2017 End of 2017 Direct materials inventory Work-in-process Inventory Finished-goods inventory 23,000 29,000 27,000 20,000 10,000 22,000 Purchases of direct materials Direct manufacturing labor 78.000 21,000 Indirect manufacturing labor 13,000 Plant insurance 8,000 Depreciation-plant, building, and equipment 16.000 Repairs and maintenance-plant 5,000 Marketing, distribution, and customer-service costs 90,000 General and administrative costs 32,000 Print Done x Clear all Check