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 Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,100,000 48, eee 62,000 81,000 221,000 265,000 40,000 32,000 64,000 102,000 163,000 58,000 74,000 97,000 Prepare its schedule of cost of goods manufactured for the year ended December 31 DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials Raw materials available for use Direct materials used Factory overhead 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 $ 1,100,000 Raw materials inventory, beginning 48,000 Work in process inventory, beginning 62,000 Finished goods inventory, beginning 81,000 Raw materials purchases 221,000 Direct labor 265,000 Indirect labor 40,000 Repairs-Factory equipment 32,000 Rent cost of factory building 64,000 Selling expenses 102,000 General and administrative expenses 163,000 Raw materials inventory, ending 58,000 Work in process inventory, ending 74,000 Finished goods inventory, ending 97.000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $600,000. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold