Required information The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory. Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dee. 31, 2017 Finished goods inventory, Dec. 31, 2017 $ 1,497,000 36,000 53,800 60, 500 192,400 233,000 15, 200 55,000 5,250 57,000 86,000 137,000 46,600 43,500 66.300 Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017 DELRAY MFG Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials Required information The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 $ 1,497,000 36,000 53,800 60,500 192,400 233,000 15,200 55,000 5,250 57,000 86,000 137,000 46,600 43,500 66,300 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG Income Statement For Year Ended December 31, 2017 Cost of goods sold Required information The following information applies to the questions displayed below. Listed here are the total costs associated with the 2017 production of 1,000 drum sets manufactured by TrueBeat The drum sets sell for $543 each. ders 1. Plastic for casing-$19,000 2. Wages of assembly workers-590,000 3. Property taxen factory-8,000 4. Accounting start salatis$43,000 5. Drun stands (1.000 stands purchased)-$27,000 6. Rent cost of equipment for sales statt-$36.000 7. Upper management salaries-$200,000 8. Annual flat fee for factory maintenance service $1 9. Sales comision $19 per unit 10. Machinery depreciation straight line 54 tboo ns Financial cha Required: 1. Classify each cost and its amount as (a) either variable or fixed and (b) either product or period (The first cost is completed as an example) Go Cost by Function Cost by Behavior Variable Fixed 19.000 oose Lea Book Product Period Plastic for casing Wages of assembly worker Ch.B GO Required information (The following information applies to the questions displayed below.) Listed here are the total costs associated with the 2017 production of 1,000 drum sets manufactured by TrueBeat The drum sets sell for $543 each. 1. Plastic for casing-$19,000 2. Wages of assembly workers-$90,000 3. Property taxes on factory-$8,000 4. Accounting statt salaries-$43,000 5. Drum standis (1.000 stands purchased)-$27.000 6. Rent cost of equipment for sales statt-$36,000 7. Upper management salaries $200,000 8. Annual flat toe tor factory maintenance service $18,000 9. Sales commissions $19 per unit 10. Machinery depreciation straight line-543,000 2. Calculate the manufacturing cost per drum set. TrueBeat Calculation of Manufacturing Cost per Drum Set For Year Ended December 31, 2017 Total cost Per unit cost Variable production costs
