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 $ 1,500,000 64,000 83,000 108,000 294,000 353,000 Indirect labor 53,000 Repairs-Factory equipment 42,000 Rent cost of factory building 84,000 Selling expenses 134,000 General and administrative expenses 214,000 Raw materials inventory, ending 77,000 work in process inventory, ending Finished goods inventory, ending 100,000 130,000 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 S 0 Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured S S 0 S

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
$ 1,500,000
64,000
83,000
108,000
294,000
353,000
Indirect labor
53,000
Repairs-Factory equipment
42,000
Rent cost of factory building
84,000
Selling expenses
134,000
General and administrative expenses
214,000
Raw materials inventory, ending
77,000
work in process inventory, ending
Finished goods inventory, ending
100,000
130,000
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
S
0
Direct materials used
Factory overhead
Total factory overhead
Total manufacturing costs
Total cost of work in process
Cost of goods manufactured
S
S
0
S
Transcribed Image Text: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 $ 1,500,000 64,000 83,000 108,000 294,000 353,000 Indirect labor 53,000 Repairs-Factory equipment 42,000 Rent cost of factory building 84,000 Selling expenses 134,000 General and administrative expenses 214,000 Raw materials inventory, ending 77,000 work in process inventory, ending Finished goods inventory, ending 100,000 130,000 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 S 0 Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured S S 0 S
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