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The following selected account balances are provided for Delray Mfg. $ 1,250,000 37,000 53,900 Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 62,750 175,600 225,000 17,840 47,000 5,250 57,000 94,000 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses 129,300 42,700 41,500 67,300 Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017

The following selected account balances are provided for Delray Mfg. $ 1,250,000 37,000 53,900 Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 62,750 175,600 225,000 17,840 47,000 5,250 57,000 94,000 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses 129,300 42,700 41,500 67,300 Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017

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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The following selected account balances are provided for Delray Mfg. Sales $ 1,250,000 Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases 37,000 53,900 62,750 175,600 Direct labor 225,000 Factory computer supplies used 17,840 Indirect labor 47,000 Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses 5,250 57,000 94,000 129,300 Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 42,700 41,500 67,300
Transcribed Image Text:The following selected account balances are provided for Delray Mfg. Sales $ 1,250,000 Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases 37,000 53,900 62,750 175,600 Direct labor 225,000 Factory computer supplies used 17,840 Indirect labor 47,000 Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses 5,250 57,000 94,000 129,300 Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 42,700 41,500 67,300
Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials: Raw materials available for use Direct materials used Factory overhead: Total factory overhead costs Total manufacturing costs Total cost of work in process Cost of goods manufactured
Transcribed Image Text:Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials: Raw materials available for use Direct materials used Factory overhead: Total factory overhead costs Total manufacturing costs Total cost of work in process Cost of goods manufactured
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