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Required information The following selected account balances are provided for Delray Mfg. Direct labor Sales Raw materials inventory, beginning Work in process inventory, beginning Finished
Required information The following selected account balances are provided for Delray Mfg. Direct labor Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,361,000 37,000 56,800 68,800 189,800 250,000 22,900 Wor 58,000 5,250 60,000 103,000 142,000 Soon 40,400 44,700 68,300 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
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