Given the following selected account balances of Delray Mfg., prepare its schedule of cost of goods manufactured for the current year ended December 31. Include a listing of the individual overhead account balances in this schedule. Sales . $1,250,000 Raw materials inventory, beginning 37,000 Work in process inventory, beginning . 53,900 Finished goods inventory, beginning 62,750 Raw materials purchases . 175,600 Direct labor . 225,000 Factory supplies used (indirect materials) . 17,840 Indirect labor 47,000 Repairs—Factory equipment . $ 5,250 Rent cost of factory building 57,000 Advertising expense 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
Given the following selected account balances of Delray Mfg., prepare its schedule of cost of goods
manufactured for the current year ended December 31. Include a listing of the individual
balances in this schedule. Sales . $1,250,000
Raw materials inventory, beginning 37,000
Work in process inventory, beginning . 53,900
Finished goods inventory, beginning 62,750
Raw materials purchases . 175,600
Direct labor . 225,000
Factory supplies used (indirect materials) . 17,840
Indirect labor 47,000
Repairs—Factory equipment . $ 5,250
Rent cost of factory building 57,000
Advertising expense 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
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