Activities LibreOffice Writer File Edit View Insert Format Styles Table Form Tools Window Help Default Style Page 1 of 1 Liberation Seri 12 a a a aba O words, 0 characters Consider the following account balances (in thousands) for the McKnight Company: (Click the icon to view the account balances.) Default Style Tue 11:12 Untitled 1 - LibreOffice Writer E English (USA) B 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. 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. Direct materials: McKnight Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials used Direct manufacturing labor Indirect manufacturing costs: Total indirect manufacturing costs Manufacturing costs incurred during 2017 Total manufacturing costs to account for Data Table McKnight Company Beginning of 2017 End of 2017 Direct materials inventory Work-in-process Inventory 22,000 23.000 26.000 24.000 Finished-goods inventory 16.000 29.000 Purchases of direct materials 76,000 Direct manufacturing labor 25.000 Indirect manufacturing labor 13.000 Plant Insurance 6.000 Depreciation-plant, building, and equipment 11.000 Repairs and maintenance-plant 5.000 Marketing, distribution, and customer-service costs 90.000 General and administrative costs 21.000 Print Done Cost of goods manufactured Requirement 2. Revenues for 2017 were $310 million. Prepare the income statement for 2017. (Use parentheses or a minus sign for operating losses.) Choose from any list or enter any number in the input fields and then continue to the next question. + | 110%