2-33 Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands) for the Shaler Corporation: Beginning of End of Shaler Corporation 2014 2014 Direct materials inventory Work-in-process inventory Finished goods inventory Purchases of direct materials 130,000 68,000 144,000 204,000 166,000 246,000 256,000 Direct manufacturing labor 212,000 Indirect manufacturing labor 96,000 Indirect materials 28,000 Plant insurance 4,000 Depreciation-plant, building, and equipment 42,000 Plant utilities 24,000 Repairs and maintenance-plant 16,000 Equipment leasing costs Marketing, distribution, and customer-service costs 64,000 124,000 General and administrative costs 68,000 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 for 2014.

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 5PA: Statement of cost of goods manufactured and income statement for a manufacturing company The...
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2-33 Cost of goods manufactured, income statement, manufacturing company. Consider the following
account balances (in thousands) for the Shaler Corporation:
Beginning of
2014
End of
Shaler Corporation
2014
Direct materials inventory
Work-in-process inventory
Finished goods inventory
130,000
68,000
144,000
204,000
166,000
246,000
Purchases of direct materials
256,000
Direct manufacturing labor
212,000
Indirect manufacturing labor
96,000
Indirect materials
28,000
Plant insurance
4,000
Depreciation-plant, building, and equipment
42,000
Plant utilities
24,000
Repairs and maintenance-plant
16,000
Equipment leasing costs
Marketing, distribution, and customer-service costs
64,000
124,000
General and administrative costs
68,000
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 for 2014.
Required
Transcribed Image Text:2-33 Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands) for the Shaler Corporation: Beginning of 2014 End of Shaler Corporation 2014 Direct materials inventory Work-in-process inventory Finished goods inventory 130,000 68,000 144,000 204,000 166,000 246,000 Purchases of direct materials 256,000 Direct manufacturing labor 212,000 Indirect manufacturing labor 96,000 Indirect materials 28,000 Plant insurance 4,000 Depreciation-plant, building, and equipment 42,000 Plant utilities 24,000 Repairs and maintenance-plant 16,000 Equipment leasing costs Marketing, distribution, and customer-service costs 64,000 124,000 General and administrative costs 68,000 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 for 2014. Required
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