Question Help Consider the following account balances in thousands) for the Smith 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 $275 milion. 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 Direct materials used Direct manufacturing labor Data Table End of 2017 Smith Company Beginning of 2017 25,000 23,000 17,000 28,000 Direct materials inventory 22,000 24,000 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 76,000 29,000 12,000 7,000 14,000 3,000 105,000 27,000 Print Done nput fields and then click Check