1.3

Use the following selected account balances of Delray Manufacturing for the year ended December 31 . Prepare its schedule of cost of goods manufactured for the year ended December 31. Prepare its schedule of cost of goods manufactured for the vear ended December 31 DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials: \begin{tabular}{|lrr|r|} \hline Direct materials: & $ & 74,000 & \\ \hline Raw materials inventory, beginning & 184,000 & \\ \hline Add: Raw materials purchases & $258,000 & \\ \hline Raw materials available for use & 89,000 & \\ \hline Add: Raw materials inventory, beginning & & $169,000 \\ \hline Add: Raw materials inventory, ending \\ Less: Raw materials inventory, beginning \\ Less: Raw materials inventory, ending & & & \\ \hline \end{tabular} Prepare its schedule of cost of goods manufactured DELRAY MANUFACTURING Schedule of Cost of Goods Manufac For Year Ended December 31 Direct materials: \begin{tabular}{l} Raw materials inventory, beginning \\ Add: Raw materials purchases \\ \hline Raw materials available for use \\ \hline Advertising expense \\ Direct labor \\ \hline Finished goods inventory, beginning \\ \hline Finished goods inventory, ending \\ General and administrative expenses \\ Indirect lahor \\ \hline Total factory overhead \\ \hline Total manufacturing costs \\ \hline Add: Work in process inventory, beginning \\ \hline Total cost of work in process \\ \hline Less: Work in process inventory, ending \\ \hline Cost of goods manufactured \\ \hline \end{tabular} DELRAY MANUFACTURINC Schedule of Cost of Goods Manuf: For Year Ended December 3 Direct materials: Raw materials inventory, beginning Add: Raw materials purchases Raw materials available for use Rent cost of factory building Repairs-Factory equipment Sales Work in process inventory, beginning Work in process inventory, ending Total factory overhead Total manufacturing costs Add: Work in process inventory, beginning Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured repare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $534,300. Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cos