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Required information Skip to question [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the
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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 | $ 1,500,000 |
---|---|
Raw materials inventory, beginning | 64,000 |
Work in process inventory, beginning | 83,000 |
Finished goods inventory, beginning | 108,000 |
Raw materials purchases | 294,000 |
Direct labor | 353,000 |
Indirect labor | 53,000 |
RepairsFactory equipment | 42,000 |
Rent cost of factory building | 84,000 |
Selling expenses | 134,000 |
General and administrative expenses | 214,000 |
Raw materials inventory, ending | 77,000 |
Work in process inventory, ending | 100,000 |
Finished goods inventory, ending | 130,000 |
Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $796,000.
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