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 $ 1,294,000 44,000 56,300 68,100 183,300 239,000 16,000 41,000 5,250 52,000 97,000 132,000 41,800 45, 700 73,500 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 Raw materials available for use 0 Direct materials used $ 0 Factory overhead: Total factory overhead costs Total manufacturing costs 0 0 Total cost of work in process 0 Cost of goods manufactured 0 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 $ 1,294,000 44,000 56,300 68,100 183,300 239,000 16,000 41,000 5, 250 52,000 97,000 132,000 41,800 45,700 73,500 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Ended December 31, 2017 Cost of goods sold Cost of goods available for sale 0 Cost of goods sold 0 Operating expenses 0 Total operating expenses Operating income $ 0 Beck Manufacturing reports the information below for 2017. 50,000 Raw Materials Inventory Begin. Inv. 10,100 Purchases 54,500 Avail. for use 64,600 DM used End. Inv. 14,600 Work in Process Inventory Begin. Inv. 15,200 DM used 50,000 Direct labor 28,700 Overhead 57,000 Avail. for mfg. 150,900 Cost of goods mfg End. Iny. 13,200 Finished Goods Inventory Begin. Inv. 19,300 Cost of goods mig 137,700 Avail. for sale 157,000 Cost of Goods Sold End. Inv. 18,300 137,700 138, 700 Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. Required 1 Required 2 Compute cost of goods sold for the year. BECK MANUFACTURING Partial Income Statement For Year Ended December 31, 2017 Cost of goods sold Goods available for sale 0 Cost of goods sold $ 0 Required 1 Required 2 Prepare the schedule of cost of goods manufactured for the year. BECK MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Total manufacturing costs 0 Total cost of work in process 0 Cost of goods manufactured $ 0
