Part 2 of 2 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. $ 1,700,000 72,000 94,000 122,000 331,000 397,000 Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending. Finished goods inventory, ending i Cost of goods sold: Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $899,000. Goods available for sale 60,000 48,000 96,000 154,000 246,000 DELRAY MANUFACTURING Income Statement For Year Ended December 31 86,000 113,000 146,000
Part 2 of 2 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. $ 1,700,000 72,000 94,000 122,000 331,000 397,000 Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending. Finished goods inventory, ending i Cost of goods sold: Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $899,000. Goods available for sale 60,000 48,000 96,000 154,000 246,000 DELRAY MANUFACTURING Income Statement For Year Ended December 31 86,000 113,000 146,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Part 2 of 2
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.
$ 1,700,000
72,000
94,000
122,000
331,000
397,000
60,000
48,000
96,000
154,000
246,000
86,000
113,000
146,000
Sales
Raw materials inventory, beginning
Work in process inventory, beginning
Finished goods inventory, beginning
Raw materials purchases
Direct labor
Indirect labor
Repairs-Factory equipment
Rent cost of factory building
Selling expenses
General and administrative expenses
Raw materials inventory, ending
Work in process inventory, ending.
Finished goods inventory, ending
Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $899,000.
Cost of goods sold:
Goods available for sale
DELRAY MANUFACTURING
Income Statement
For Year Ended December 31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F717ad7aa-6db6-4680-8ef2-b7afe96da5d8%2Fb30cc08c-39a2-4e4c-9141-057bc7ded1b8%2F7jbur0q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Part 2 of 2
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.
$ 1,700,000
72,000
94,000
122,000
331,000
397,000
60,000
48,000
96,000
154,000
246,000
86,000
113,000
146,000
Sales
Raw materials inventory, beginning
Work in process inventory, beginning
Finished goods inventory, beginning
Raw materials purchases
Direct labor
Indirect labor
Repairs-Factory equipment
Rent cost of factory building
Selling expenses
General and administrative expenses
Raw materials inventory, ending
Work in process inventory, ending.
Finished goods inventory, ending
Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $899,000.
Cost of goods sold:
Goods available for sale
DELRAY MANUFACTURING
Income Statement
For Year Ended December 31
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