Consider the following account balances (in thousands) for the Shaler Corporation:

Required
1. Prepare a schedule for the cost of goods manufactured for 2014.
2. Revenues (in thousands) for 2014 were $ 1,200,000. Prepare the income statement for2014.

Transcribed Image Text:

End of 2014 68,000 144,000 204,000 256,000 212,000 96,000 28,000 4,000 42,000 24,000 16,000 64,000 124,000 68,000 Beginning of 2014 130,000 166,000 246,000 Shaler Corporation Direct materials inventory Work-in-process inventory Finished goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Indirect materials Plant insurance Depreciation-plant, building, and equipment Plant utilities Repairs and maintenance-plant Equipment leasing costs Marketing, distribution, and customer-service costs General and administrative costs