hello for this question i have to make a schedule for cogm for 2017... as well as an income stmt for 2017... :|

Consider the following account balances (in thousands) for the Smith Company: Requirements (Click the icon to view the account balances.) 1. Prepare a schedule for the cost of goods manufactured for 2017. 2. Revenues for 2017 were $290 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. Smith Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials: Direct materials used Direct manufacturing laborBeginning of End of Smith Company 2017 2017 Direct materials inventory 25,000 27,000 Work-in-process inventory 28,000 24,000 Finished-goods inventory 11,000 23,000 Purchases of direct materials 75,000 Direct manufacturing labor 20,000 Indirect manufacturing labor 13,000 Plant insurance 9,000 Depreciation-plant, building, and equipment 12,000 Repairs and maintenance-plant 2,000 Marketing, distribution, and customer-service costs 105,000 General and administrative costs 38,000 Print Done