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The following selected account balances are provided for Delray Mfg. Sales $ 1,095,000 Raw materials inventory, beginning 36,000 Work in process inventory, beginning 54,900 Finished
The following selected account balances are provided for Delray Mfg.
Sales | $ | 1,095,000 |
Raw materials inventory, beginning | 36,000 | |
Work in process inventory, beginning | 54,900 | |
Finished goods inventory, beginning | 67,000 | |
Raw materials purchases | 184,500 | |
Direct labor | 231,000 | |
Factory supplies used (indirect materials) | 16,600 | |
Indirect labor | 59,000 | |
RepairsFactory equipment | 5,250 | |
Rent cost of factory building | 53,000 | |
Advertising expense | 104,000 | |
General and administrative expenses | 141,000 | |
Raw materials inventory, ending | 44,200 | |
Work in process inventory, ending | 45,900 | |
Finished goods inventory, ending | 65,600 | |
Prepare an income statement for Delray Mfg. (a manufacturer).
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