= Homework: Module 1 Comprehensive Problem Question 1, P2-37 (simila... Part 1 of 4 > HW Score: 0%, 0 of 20 points O Points: 0 of 20 Save Consider the following account balances (in thousands) for the Cole Company (Click the icon to view the account balances.) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues for 2017 were $295 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. Cole Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Data Table Direct materials: Beginning of 2017 End of 2017 22,000 29,000 25,000 20,000 12,000 21,000 Direct materials used Direct manufacturing labor Cole 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 79,000 27,000 11,000 9,000 10,000 5,000 99,000 26,000 e Text Pages Calculator