The following selected account balances are provided for Delray Mfg. Sales $ 1,220,000 42,000 52,600 Raw...
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The following selected account balances are provided for Delray Mfg. Sales $ 1,220,000 42,000 52,600 Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases 69,500 162,900 Direct labor 246,000 17,700 Factory supplies used (indirect materials) Indirect labor 48,000 Repairs-Factory equipment 5,250 51,000 Rent cost of factory building Advertising expense 81,000 138,000 43,000 General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 41,500 70,800 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Ended December 31, Year 1 Sales Cost of goods sold Finished goods inventory, beginning $ Cost of goods manufactured Cost of goods available for sale Cost of goods sold Operating expenses Total operating expenses Operating income EA 69,500 69,500 $1,220,000 69,500 1,150,500 0 $ 1,150,500 The following selected account balances are provided for Delray Mfg. Sales $ 1,220,000 42,000 52,600 Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases 69,500 162,900 Direct labor 246,000 17,700 Factory supplies used (indirect materials) Indirect labor 48,000 Repairs-Factory equipment 5,250 51,000 Rent cost of factory building Advertising expense 81,000 138,000 43,000 General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 41,500 70,800 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Ended December 31, Year 1 Sales Cost of goods sold Finished goods inventory, beginning $ Cost of goods manufactured Cost of goods available for sale Cost of goods sold Operating expenses Total operating expenses Operating income EA 69,500 69,500 $1,220,000 69,500 1,150,500 0 $ 1,150,500
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Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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