Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,024,000 Raw...

Required information

The following selected account balances are provided for Delray Mfg.


Sales	$	1,024,000
Raw materials inventory, Dec. 31, 2016		36,000
Work in process inventory, Dec. 31, 2016		51,300
Finished goods inventory, Dec. 31, 2016		66,000
Raw materials purchases		171,700
Direct labor		226,000
Factory computer supplies used		19,300
Indirect labor		56,000
Repairs—Factory equipment		5,250
Rent cost of factory building		57,000
Advertising expense		98,000
General and administrative expenses		131,000
Raw materials inventory, Dec. 31, 2017		41,100
Work in process inventory, Dec. 31, 2017		43,300
Finished goods inventory, Dec. 31, 2017		67,900

Prepare an income statement for Delray Mfg. (a manufacturer).

Expert Solution

ekkarill92 answered 1 year ago

Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,248,000 Raw...

Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,248,000 Raw materials inventory, Dec. 31, 2016 36,000 Work in process inventory, Dec. 31, 2016 58,100 Finished goods inventory, Dec. 31, 2016 67,100 Raw materials purchases 159,100 Direct labor 245,000 Factory computer supplies used 19,300 Indirect labor 48,000 Repairs—Factory equipment 5,250 Rent cost of factory building 54,000 Advertising expense 104,000 General and administrative expenses 140,000 Raw materials inventory, Dec. 31, 2017 42,700 Work in process inventory,...

Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,250,000 Raw...

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