Use the following information for the Exercises below. The following selected account balances are provided for Delray
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Use the following information for the Exercises below.
The following selected account balances are provided for Delray Mfg.
Sales | $ | 1,498,000 |
Raw materials inventory, Dec. 31, 2016 | 40,000 | |
Work in process inventory, Dec. 31, 2016 | 51,600 | |
Finished goods inventory, Dec. 31, 2016 | 67,100 | |
Raw materials purchases | 184,300 | |
Direct labor | 223,000 | |
Factory computer supplies used | 23,100 | |
Indirect labor | 50,000 | |
Repairs—Factory equipment | 5,250 | |
Rent cost of factory building | 59,000 | |
Advertising expense | 95,000 | |
General and administrative expenses | 130,000 | |
Raw materials inventory, Dec. 31, 2017 | 42,500 | |
Work in process inventory, Dec. 31, 2017 | 40,500 | |
Finished goods inventory, Dec. 31, 2017 | 71,300 | |
Prepare an income statement for Delray Mfg. (a manufacturer).
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
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