P2-37 (similar to) Question Help Consider the following account balances (in thousands) for the Canseco 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 $260 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. Canseco Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials: Direct materials used Direct manufacturing labor Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts 3 remaining Clear All Check Answer Data Table Beginning of 2017 End of 2017 Canseco Company Direct materials inventory Work-in-process inventory Finished-goods inventory 21,000 26,000 10,000 29,000 22,000 23,000 Purchases of direct materials 71,000 Direct manufacturing labor Indirect manufacturing labor 20,000 17,000 8,000 14,000 Plant insurance 2,000 Depreciation-plant, building, and equipment Repairs and maintenance-plant Marketing, distribution, and customer-service costs General and administrative costs 97,000 36,000 Print Print Done Done JUIL. U UI 2 Pts anseco Company: actured for 2017. P2-37 Conside Beginning inventory, Jan. 1, 2017 (Clic Beginning work-in-process inventory, Jan. 1, 2017 Cost of direct materials available for use Cost of goods manufactured Require Depreciation-plant, building, and equipment Begin by Ending inventory, Dec. 31, 2017 manufac Ending work-in-process inventory, Dec. 31, 2017 Indirect manufacturing labor Miscellaneous manufacturing overhead costs Plant insurance Purchases of direct materials Direct r Repairs and maintenance-plant (in thousands). Start with the direct red ousands) Direct materials used Direct manufacturing labor Choose from any list or enter any number in the input fields and then click Check