2 Required information The following selected account balances are provided for Delray Mfg. Part 1 of 2 8 01:51:13 Sales $1,051,000 Raw materials inventory, beginning 39,000 Work in process inventory, beginning 56,300 Finished goods inventory, beginning 62,100 Raw materials purchases 173,200 Direct labor 230,000 Factory supplies used (indirect materials) 23,300 Indirect labor 54,000 Repairs-Factory equipment 5,250 Rent cost of factory building 58,000 Advertising expense 94,000 General and administrative 126,000 expenses Raw materials inventory, ending 47,600 Work in process inventory, ending 47,600 Finished goods inventory, ending 70, 500 Prepare its schedule of cost of goods manufactured for the current year ended December 31 DELRAY MFG. Schedule of Cost of Goods Manufactured For Yoar Ended December 31, Year 1 Direct materials Raw materials inventory beginning $ 39,000 Add: Raw materials purchases 173,200 Raw materials available for use 212,200 Less: Raw materials inventory, ending 47,600 $ Direct materials used 164,600 Factory overhead: Total factory overhead costs Total manufacturing costs 0 164,600 Total cost of work in process 164,600 Cost of goods manufactured $ 164,600