Score: 18.37 of 30 pts 17 of 22 122 complete) HW Score: 76.67%, 120 37 of 157 * P2-38 (book/static) IE Question Help Consider the following account balances in thousands) for the Carolina Corporation Requirements Click the loon to view the account balances) 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues in thousands) for 2017 were $1,300,000. Prepare the income statement for 2017 Requirement 1. Prepare a schedule for the cost of goods manufactured for 2017 Start with the direct materials and labor costs, then martacturing overhead costs, and complete the schedule by calculating cost of goods manufactured. Carolina Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials Beginning inventory, Jan 1, 2017 $ 124.000 Purchases of direct materials 262 000 Cost of direct materials available for us 385.000 Activate Windows Choose from any list or enter any number in the input fields and then click Check Alewer All parts showing Clear All Check Answer dx 6:33 PM Type here to search //2020 o II TIUM WIR DUL August 29 - Chapel 2 HUMMEWUIK - Part 1 02 Save Score: 18.37 of 30 pts 17 of 22 122 complete) HW Score: 76,67%, 120.37 of 157 P2-38 (book/static) Question Help Consider the following account balances (in thousands) for the Carolina Corporation: Click the icon to view the account balances) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues in thousands) for 2017 were $1,300,000. Prepare the income statement for 2017 $313.000 217,000 $ Direct materials used Direct manufacturing labor Manufacturing overhead costs Indirect manufacturing labor Plant insurance Depreciation-plant, building, and equipment Plant utilities Repairs and maintenance plant Equipment leasing costs 97000 9,000 45,000 25 000 12,000 65,000 Activate Windows Choose from any list or enter any number in the input fields and then click Check Answer Clear All Check Answer All parts showing o 6:33 PM 8/20/2020 9 Type here to search Homework: DUE August 29 - Chapter 2 Homework - Part 1 of 2 Save Score: 18.37 of 30 pts 17 of 22 (22 complete) HW Score: 76.67%, 120.37 of 157 pts W P2-38 (book/static) Question Help Consider the following account balances in thousands) for the Carolina Corporation Click the icon to view the account balances) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues in thousands) for 2017 were $1.300.000. Prepare the income statement for 2017 Total manufacturing overhead costs 254,000 Manufacturing costs incurred during 2017 784,000 Beginning work in process inventory, Jan 1, 2017 173.000 Total manufacturing costs to account for 957,000 Ending work-in-process inventory, Dec 31, 2017 145.000 $ 812 000 Cost of goods manufactured Requirement 2. Revenues (in thousands) for 2017 were $1.300.000. Prepare the income statement for 2017 (Use a minus signor parentheses for an operating) Carolina Corporation Activate Windows Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All All parts showing 633 PM 8/20/2020 Type here to search Homework: DUE August 29 - Chapter 2 Ho 17 of 22 (17 complete) Score: 25. 1 of 30 pts % P2-38 (book/static) Consider the following account balances (in thousands) for the Carolina Corporation: Click the icon to view the account balances.) Requirements 1. Prepare a se 2. Revenues ( $ 1,300,000 For the Year Ended December 31, 2017 (in thousands) Revenues Cost of goods sold Beginning finished goods, Jan 1, 2017 240,000 Cost of goods manufactured 812,000 Cost of goods available for sale 1,052,000 Ending finished goods, Dec. 31, 2017 206,000 Cost of goods sold Gross margin 846,000 454,000 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. All parts showing Type here to search 0 BI E Homework: DUE August 29 - Chapter 2 Homework