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Use the following selected account balances of Delray Manufacturing for the year ended December 31.

Sales	$ 2,200,000
Raw materials inventory, beginning	92,000
Work in process inventory, beginning	120,000
Finished goods inventory, beginning	156,000
Raw materials purchases	423,000
Direct labor	508,000
Indirect labor	76,000
RepairsFactory equipment	61,000
Rent cost of factory building	122,000
Selling expenses	195,000
General and administrative expenses	312,000
Raw materials inventory, ending	110,000
Work in process inventory, ending	144,000
Finished goods inventory, ending	187,000

Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,148,000. Return to question

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[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	$ 2,200,000
Raw materials inventory, beginning	92,000
Work in process inventory, beginning	120,000
Finished goods inventory, beginning	156,000
Raw materials purchases	423,000
Direct labor	508,000
Indirect labor	76,000
RepairsFactory equipment	61,000
Rent cost of factory building	122,000
Selling expenses	195,000
General and administrative expenses	312,000
Raw materials inventory, ending	110,000
Work in process inventory, ending	144,000
Finished goods inventory, ending	187,000

Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,148,000.