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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 $ 2,150,000 90,000 117,000 152,000 414,000 497,000 75,000 60,000 120,000 192,000 307,000 108,000 140,000 182,000 Prepare its schedule of cost of goods manufactured 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 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 $ 2,150,000 90,000 117,000 152,000 414,000 497,000 75,000 60,000 120,000 192,000 307,000 108,000 140,000 182,000 Prepare its schedule of cost of goods manufactured for the year ended December 31.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 Direct materials Prepare its schedule of cost of goods manufactured for the year ended December 31. DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 Raw materials available for use Direct materials used Factory overhead $ 2,150,000 90,000 117,000 152,000 414,000 497,000 75,000 60,000 120,000 192,000 307,000 $ 108,000 140,000 182,000 0 $ 0
Transcribed Image Text: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 Direct materials Prepare its schedule of cost of goods manufactured for the year ended December 31. DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 Raw materials available for use Direct materials used Factory overhead $ 2,150,000 90,000 117,000 152,000 414,000 497,000 75,000 60,000 120,000 192,000 307,000 $ 108,000 140,000 182,000 0 $ 0
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 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 DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured i Goods available for sale $ 2,150,000 90,000 117,000 152,000 414,000 497,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,125,000 75,000 60,000 120,000 192,000 307,000 108,000 140,000 182,000 0
Transcribed Image Text: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 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 DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured i Goods available for sale $ 2,150,000 90,000 117,000 152,000 414,000 497,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,125,000 75,000 60,000 120,000 192,000 307,000 108,000 140,000 182,000 0
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