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 1,186,000 40,000 53,700 66,200 157,100 243,000 21,400 51,000 5,250 58,000 88,000 126,000 49,700 44,100 68,800 DELRAY MEG. 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 Total cost of work in process Cost of goods manufactured DELRAY MFG. 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