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2-32 Cost of finished goods manufactured, income statement, manufacturing company. Consider the fol- lowing account...

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Accounting

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2-32 Cost of finished goods manufactured, income statement, manufacturing company. Consider the fol- lowing account balances (in thousands) for the Canseco Company Data Review View End of 2011 Beginning of 2011 $22,000 21,000 18,000 Home Insert Page Layout Formulas A 1 Canseco Company 2 3 Direct materials inventory 4 Work-in-process inventory 5 Finished goods inventory 6 Purchases of direct materials 7 Direct manufacturing labor 8 Indirect manufacturing labor 9 Plant insurance 10 Depreciation-plant, building, and equipment 11 Repairs and maintenance-plant 12 Marketing, distribution, and customer-service costs 13 General and administrative costs $26.000 20.000 23,000 75,000 25,000 15,000 9.000 11,000 4,000 93,000 29,000 1. Prepare a schedule for the cost of goods manufactured for 2011. 2. Revenues for 2011 were $300 million. Prepare the income statement for 2011. Required r

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