Question

Consider the following account balances (in thousands) for the CarolinaCarolina Corporation: LOADING... (Click the icon to view the account balances.) Requirements 1. Prepare a schedule for the cost of goods manufactured for 20172017. 2. Revenues (in thousands) for 20172017 were $ 1 comma 300 comma 000$1,300,000. Prepare the income statement for 20172017. Requirement 1. Prepare a schedule for the cost of goods manufactured for 20172017. Start with the direct materials and labor costs, then manufacturing 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: Direct materials used Direct manufacturing labor Choose from any list or enter any number in the input fields and then click Check Answer.

	Beginning of	End of
Carolina Corporation	2017	2017
Direct materials inventory	$124,000	$73,000
Work-in-process inventory	173,000	145,000
Finished-goods inventory	240,000	206,000
Purchases of direct materials		262,000
Direct manufacturing labor		217,000
Indirect manufacturing labor		97,000
Plant insurance		9,000
Depreciation—plant, building, and equipment		45,000
Plant utilities		26,000
Repairs and maintenance—plant		12,000
Equipment leasing costs		65,000
Marketing, distribution, and customer-service costs		125,000
General and administrative costs		71,000

Answer 1

2)