Required Information The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor 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 $ 1,250,000 37,000 53,500 62,750 175,60 225, eee 17,840 47,00 5,250 57,00 94,00 129,300 42,7ee 41, see 67,300 Prepare its schedule of cost of goods manufactured for the current year ended December 31. Answer is not complete. DELRAY MFG Schedule of Cost of Goods Manufactured For Year Ended December 31, Year 1 Direct materials: Raw materials inventory beginning $ 37.000 Add: Raw materials purchases 175.000 Raw materials available for use S212.000 Less: Raw materials inventory ending 42.700 Direct materials used Direct labor ols OO IS 109.000 225.000 57.000 17,840 Factory overhead Rent cost of factory building Factory supplies used Finished goods inventory, beginning Repairs Factory equipment Finished goods inventory beginning Factory supplies used Total factory overhead costs Total manufacturing costs OOO 74.840 489,740 489,740 Total cost of work in process 469,740 Cost of goods manufactured