Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues for 2017 were $310 million. Prepare the income statement for 2017 Consider the following account balances (in thousands) for the Peterson Company Click the icon to view the account balances.) 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. Screen Shot 2019-09-06 at 3.59.47 PM Peterson Company Q Search Schedule of Cost of Goods Manufactured Highlight Ratate Markup Search Share View Zoom For the Year Ended December 31, 2017 (in thousands) Direct materials Data Table End of Beginning of 2017 Peterson Company 2017 23,000 21,000 Direct materials used Direct materials inventory 25,000 26,000 Work-in-process inventory Direct manufacturing labor 13.000 20,000 Finished-goods inventory Indirect manufacturing costs 74,000 Purchases of direct materials 22.000 Direct manufacturing labor 17,000 Indirect manufacturing labor 7,000 Plant insurance 11,000 Depreciation-plant, building, and equipment 3,000 Repairs and maintenance-plant 91,000 Marketing, distribution, and customer-service costs 24,000 General and administrative costs