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End of 2017 Beginning of 2017 28,000 24,000 16,000 Benesch Company Direct materials inventory Work-in-process inventory...

End of 2017 Beginning of 2017 28,000 24,000 16,000 Benesch Company Direct materials inventory Work-in-process inventory Finis

Consider the following account balances (in thousands) for the Benesch Company B Click the icon to view the account balances.

Consider the following account balances (in thousands) for the Benesch Company Click the icon to view the account balances) R

BB Click the icon to view the account balances) statement for 2017 Total manufacturing costs to account for Cost of goods man

End of 2017 Beginning of 2017 28,000 24,000 16,000 Benesch Company Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciation-plant, building, and equipment Repairs and maintenance-plant Marketing, distribution, and customer service costs General and administrative costs 29,000 21,000 20,000 79,000 22,000 14,000 8,000 15,000 5,000 98,000 23,000
Consider the following account balances (in thousands) for the Benesch Company B Click the icon to view the account balances.) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues for 2017 were 5310 million. Prepare the income statement for 2017 itoring 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 rive ations cies Benesch Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials Beginning inventory. Jan 1, 2017 28000 Purchases of direct materials Cost of direct materials available for use Ending inventory, Dec 31, 2017 Direct materials used Direct manufacturing labor Indirect manufacturing costs Support late Total Indirect manufacturing costs Manufacturing costs incurred during 2017 Total manufacturing costs to account for Choose from any list or enter any number in the input fields and then continue to the next question Type here to search
Consider the following account balances (in thousands) for the Benesch Company Click the icon to view the account balances) 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 bring Total indirect manufacturing costs Manutacturing costs incurred during 2017 Total manufacturing costs to account for clons Cost of goods manufactured Requirement 2. Revenues for 2017 were 5310 million. Prepare the income statement for 2017. (Use parentheses or a minus sign operating losses) Benesch Company Income Statement For the Year Ended December 31, 2017 in thousan Support Cost of goods sold Cost of goods sol Choose from any list or enter any number in the outfields and then continue to the next question Type here to search
BB Click the icon to view the account balances) statement for 2017 Total manufacturing costs to account for 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.) Benesch Company Income Statement For the Year Ended December 31, 2017 (in thousands) upport Cost of goods sold: Cost of goods sold Operating costs Total operating costs Operating income (loss) Choose from any list or enter any number in the input fields and then continue to the next question Type here to search OBI 9 AAN 10
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1.

Benesch Company
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 2017 (in thousands)
Direct materials:
Beginning inventory, Jan. 1, 2017 28000
Purchases of direct materials 79000
Cost of direct materials available for use 107000
Ending inventory, Dec. 31, 2017 29000
Direct materials used 78000
Direct manufacturing labor 22000
Indirect manufacturing costs:
Indirect manufacturing labor 14000
Plant insurance 8000
Depreciation-plant, building, and equipment 15000
Repairs and maintenance-plant 5000
Total indirect manufacturing costs 42000
Manufacturing costs incurred during 2017 142000
Work in process inventory, Jan. 1, 2017 24000
Total manufacturing costs to account for 166000
Work in process inventory, Dec. 31, 2017 21000
Cost of goods manufactured 145000

2.

Benesch Company
Income Statement
For the Year Ended December 31, 2017 (in thousands)
Revenues 310000
Cost of goods sold:
Finished goods inventory, Jan. 1, 2017 16000
Cost of goods manufactured 145000
Cost of goods available for sale 161000
Finished goods inventory, Dec. 31, 2017 20000
Cost of goods sold 141000
Gross profit 169000
Operating costs:
Marketing, distribution, and customer-service costs 98000
General and administrative costs 23000
Total operating costs 121000
Operating income (loss) 48000
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