Consider the following account balances (in thousands) for the Rouse Company: (Click the icon to view...

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Consider the following account balances (in thousands) for the Rouse Company: (Click the icon to view the account balances.) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2020. 2. Revenues for 2020 were $305 million. Prepare the income statement for 2020. Requirement 1. Prepare a schedule for the cost of goods manufactured for 2020. 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. Rouse Company Schedule of Cost of Goods Manufactured Data table For the Year Ended December 31, 2020 (in thousands) Direct materials: Direct materials used Direct manufacturing labor Rouse Company Beginning of 2020 End of 2020 Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor 24,000 29,000 26,000 28,000 10.000 25,000 79,000 20,000 Indirect manufacturing labor 17,000 Plant insurance 8,000 Depreciation-plant, building, and equipment 15,000 Repairs and maintenance-plant 4,000 Marketing, distribution, and customer-service costs 97,000 General and administrative costs 23,000 Print Done Consider the following account balances (in thousands) for the Rouse Company: (Click the icon to view the account balances.) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2020. 2. Revenues for 2020 were $305 million. Prepare the income statement for 2020. Requirement 1. Prepare a schedule for the cost of goods manufactured for 2020. 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. Rouse Company Schedule of Cost of Goods Manufactured Data table For the Year Ended December 31, 2020 (in thousands) Direct materials: Direct materials used Direct manufacturing labor Rouse Company Beginning of 2020 End of 2020 Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor 24,000 29,000 26,000 28,000 10.000 25,000 79,000 20,000 Indirect manufacturing labor 17,000 Plant insurance 8,000 Depreciation-plant, building, and equipment 15,000 Repairs and maintenance-plant 4,000 Marketing, distribution, and customer-service costs 97,000 General and administrative costs 23,000 Print Done