Ch 14: Assessment i Saved 5 Part 2 of 2 20 points Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor $ 1,900,000 80,000 104,000 135,000 368,000 442,000 66,000 53,000 106,000 170,000 General and administrative expenses 272,000 Raw materials inventory, ending 96,000 Work in process inventory, ending Finished goods inventory, ending 125,000 162,000 Repairs-Factory equipment Rent cost of factory building Selling expenses Mc Graw Hill Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $998,000. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold: Raw materials inventory, ending Goods available for sale Cost of goods sold Net income $ 352,000 352,000 352,000 $ 0 < Prev 50 of 5 Next >