Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Rav materials purchases Direct labor Indirect labor $ 1,950,000 82,000 107,000 139,000 377,000 452,000 68,000 Repairs-Factory equipment 54,000 Rent cost of factory building 108,000 Selling expenses 173,000 General and administrative expenses 277,000 Raw materials inventory, ending Work in process inventory, ending Pinished goods inventory, ending 98,000 128,000 167,000 Exercise 14-13 (Algo) Preparing schedule of cost of goods manufactured LO P2 Prepare its schedule of cost of goods manufactured for the year ended December 31. Direct materials: DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 Raw materials available for use Direct materials used Factory overhead: Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,022,000. Cost of goods sold: DELRAY MANUFACTURING Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold Net income