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Required information [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended
Required information [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 Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor $ 2,600,000 108,000 140,000 182,000 497,000 596,000 89,000 Repairs-Factory equipment 71,000 Rent cost of factory building 142,000 Selling expenses 227,000 General and administrative expenses. 363,000 Raw materials inventory, ending 130,000 Work in process inventory, ending Finished goods inventory, ending 168,000 218,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,345,000. Cost of goods sold: DELRAY MANUFACTURING Income Statement For Year Ended December 31 Goods available for sale
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