Exercise $18-13$

Preparing schedule of cost of goods manufactured

P$2$

Use the following selected account balances of Delray Mfg$.$ to prepare its schedule of cost of goods manufactured for the year ended December $31.$

Sales $$1,250,000$

Raw materials inventory, beginning $37,000$

Work in process inventory, beginning $53,900$

Finished goods inventory, beginning $62,700$

Raw materials purchases $175,600$

Direct labor $225,000$

Indirect labor $47,000$

Repairs $$ Factory equipment $23,000$

Rent cost of factory building $57,000$

Selling expenses $94,000$

General and administrative expenses $129,300$

Raw materials inventory, ending $42,700$

Work in process inventory, ending $41,500$

Finished goods inventory, ending $67,300$

Check Direct materials used, $$169,900$