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please help, not sure if what I already have is correct. Required Information Use the following information for the Exercises below. (Algo) (The following information
please help, not sure if what I already have is correct.
Required Information Use the following information for the Exercises below. (Algo) (The following information applies to the questions displayed below.) Use the following selected account balances of Delray Manufacturing for the year ended December 31 Sales $ 2,150,000 Raw materials inventory, beginning 90,000 Work in process inventory beginning 117,000 Finished goods inventory, beginning 152,000 Raw materials purchases 414,000 Direct labor 497,000 Indirect labor 75,000 Repairs-Pactory equipment 60,000 Rent cost of factory building 120,000 Selling expenses 192,000 General and administrative expenses 307,000 Raw materials inventory, ending 108,000 Work in process inventory, ending 140,000 Finished goods inventory, ending 182,000 Exercise 18-14 (Algo) Income statement preparation LO P1 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,125,000. $ 2,150,000 DELRAY MANUFACTURING Income Statement For Year Ended December 31 Sales Cost of goods sold: Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending Goods available for sale $ 152,000 182,000 334,000 Cost of goods sold 334,000 1,816,000 $ 1,816,000 Net Income Step by Step Solution
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