Required information Use the following information for the Exercises below. 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 1,304,000 38,000 51,600 66,500 191,000 227,000 24,900 51,000 5,250 56,000 101,000 131,000 49,300 42,300 74,100 Required information DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended December 31, Year 1 Direct materials Raw materials available for use 0 0 Direct materials used $ Factory overhead 0 Total factory overhead costs Total manufacturing costs 0 0 Total cost of work in process 0 Cost of goods manufactured Use the following information for the Exercises below. 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, 304,000 38,000 51,600 66,500 191,000 227,000 24,900 51,000 5,250 56,000 101,000 131,000 49,300 42,300 74,100 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Ended December 31, Year 1 Cost of goods sold Cost of goods available for sale 0 Cost of goods sold 0 Operating expenses Total operating expenses Operating income 0 $ Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LC Beck Manufacturing reports the following information in T-account form for 2019. 50, 500 Raw Materials Inventory Begin. Inv. 10,400 Purchases 52,000 Avail. for use 62,400 DM used End. Inv. 11,900 Work in Process Inventory Begin. Inv. 17,600 DM used 50, 500 Direct labor 31,900 Overhead 62,000 Manuf. costs 162,000 Cost of goods manuf! End. Inv. 13,800 Finished Goods Inventory Begin. Inv. 19,600 Cost of goods manuf. 148, 200 Avail. for sale 167,800 Cost of Goods Sold End. Inv. 19,900 148.200 CD 147,900 Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year Complete this question by entering your answers in the tabs below. 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, 2019 Total manufacturing costs 0 Total cost of work in process 0 Cost of goods ganufactured $ 0 Required Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute cost of goods sold for the year. BECK MANUFACTURING Partial income Statement For Year Ended December 31, 2019 Cost of goods sold Goods available for sale 0 $ 0 Cost of goods sold
