Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. $ 1,250, 000 37,000 53, 900 62, 750 175, 600 225, 000 17,840 47, 000 5, 250 57,000 94, 000 129, 300 42, 700 41, 500 67, 300 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 adninistrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending Exercise 18-13 Prepare schedule of cost of goods manufactured LO P2 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 inventory, beginning Add: Raw materials purchases 24 37,000 175,600 $ 212,600 212,600 Raw materials available for use Less: Raw materials inventory, ending Direct materials used $ 169,900 Factory overhead: Total factory overhead costs Total manufacturing costs $ 169,900 Total cost of work in process 169,900 Cost of goods manufactured $ 169,900