ces Required information [The following information applies to the questions displayed below.] 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 Raw materials purchases Direct labor Indirect labor $ 1,250,000 37,000 53,900 62,700 175,600 225,000 47,000 23,000 57,000 94,000 General and administrative expenses 129,300 Raw materials inventory, ending 42,700 Work in process inventory, ending 41,500 Finished goods inventory, ending 67,300 Repairs-Factory equipment Rent cost of factory building Selling expenses Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $534,300. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 16E: Cost of goods sold, profit margin, and net income for a manufacturing company The following...
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Required information
[The following information applies to the questions displayed below.]
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
Raw materials purchases
Direct labor
Indirect labor
$ 1,250,000
37,000
53,900
62,700
175,600
225,000
47,000
23,000
57,000
94,000
General and administrative expenses
129,300
Raw materials inventory, ending
42,700
Work in process inventory, ending
41,500
Finished goods inventory, ending
67,300
Repairs-Factory equipment
Rent cost of factory building
Selling expenses
Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $534,300.
DELRAY MANUFACTURING
Income Statement
For Year Ended December 31
Cost of goods sold:
Goods available for sale
Transcribed Image Text:ces Required information [The following information applies to the questions displayed below.] 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 Raw materials purchases Direct labor Indirect labor $ 1,250,000 37,000 53,900 62,700 175,600 225,000 47,000 23,000 57,000 94,000 General and administrative expenses 129,300 Raw materials inventory, ending 42,700 Work in process inventory, ending 41,500 Finished goods inventory, ending 67,300 Repairs-Factory equipment Rent cost of factory building Selling expenses Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $534,300. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale
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