Required information The following selected account balances are provided for Delray Mfg. $1,311,000 44,000 Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor 50,900 60,900 163,100 241,000 Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative 22,800 51,000 5,250 54,000 109,000 142,000 expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 44,200 38,900 73,000 Prepare its schedule of cost of goods manufactured for the current year ended December 31 DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended December 31, Year 1 Direct materials Raw materials available for use $ Direct materials used 0 Factory overhead: Total factory overhead costs Total manufacturing costs 0 Total cost of work in process $ Cost of goods manufactured Prepare an income statement for Delray Mfg. (a manufacturer) DELRAY MFG. Income Statement For Year Ended December 31, Year 1 Cost of goods sold Cost of goods available for sale Cost of goods sold Operating expenses Total operating expenses Operating income