Answer:
Manufacturing costs incurred during 2017= $769,000
Explanation:
Giving the following information:
Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands):
Direct materials:
Beginning inventory, Jan. 1, 2017= $135,000
Purchases of direct materials= 260,000
Cost of direct materials available for use= 395,000
Ending inventory, Dec. 31, 2017= 72,000
Direct materials used $323,000
Direct manufacturing labor 210,000
Manufacturing overhead costs:
Indirect manufacturing labor= $95,000
Plant utilities= 19,000
Depreciation—plant, building, and equipment= 43,000
Plant insurance= 2,000
Repairs and maintenance—plant= 17,000
Equipment leasing costs= 60,000
Total manufacturing overhead costs 236,000
Manufacturing costs incurred during 2017= direct materials used + direct labor + manufacturin overhead= 323000 + 210000 + 236000= $769,000
