Required information The following selected account balances are provided for Delray Mfg $1,250,000 37.000 53,900 Sales Raw materials inventory. beginning Hork in process inventory. beginning Finished goods Inventory beginning Raw materiale purchases Direct labor Factory supplen used (indirect materiale Indirect labor Repairs Factory equipment Rent coat of factory building Advertising expense General and administrative expenses Raw materials inventory ending Work in process Inventory. ending Finished goods inventory ending 62.750 175.600 225,000 17,840 47,000 5,250 57,000 94,000 129,300 ces 42,700 41,500 67,300 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 Factory overhead: Total factory overhead costs Total manufacturing costs lolol Total cost of work in process Cost of goods manufactured Required Information The following selected account balances are provided for Delray Mfg. $1,250,000 37,000 53,900 Sales Raw materials inventory, beginning Work in process Inventory. beginning Finished goods Inventory beginning Raw materiale purchases Direct labor Factory suppllen wed (indirect materiale) Indtreet labor Repairs Factory equipment Rent cont of factory building Advertising expense General and administrative expenses Raw materialo inventory ending Work in process inventory. ending Finished goods Inventory ending 62,750 175,600 225.000 17,840 47.000 5,250 57,000 94,000 129,300 42,700 41,500 67,300 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MEG 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