Refer to the information in Exercise 18-13 to prepare an income statement for Delray Mfg. (a manufacturer). Assume that its cost of goods manufactured is $534,300.

Data From Exercise 18-13

Use the following selected account balances of Delray Mfg. to prepare its schedule of cost of goods manufactured for the year ended December 31.

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Sales $1,250,000 Repairs-Factory equipment $ 23,000 Raw materials inventory, beginning.. 37,000 Rent cost of factory building. 57,000 Work in process inventory, beginning 53,900 Selling expenses . 94,000 Finished goods inventory, beginning.. Raw materials purchases .... 62,700 General and administrative expenses 129,300 175,600 Raw materials inventory, ending 42,700 Direct labor 225,000 Work in process inventory, ending . 41,500 Indirect labor .. 47,000 Finished goods inventory, ending 67,300