Do not give answer in image Required information[The following information applies to the questions displayed below.]Use the following selected account balances of Delray Manufacturing for the year ended December 31.SalesRaw materials inventory, beginningWork in process inventory, beginningFinished goods inventory, beginningRaw materials purchasesDirect laborIndirect laborRepairs-Factory equipmentRent cost of factory buildingSelling expensesGeneral and administrative expensesRaw materials inventory, endingWork in process inventory, endingFinished goods inventory, endingDirect materials:Raw materials inventory, beginningAdd: Raw materials purchasesRaw materials available for useLess: Raw materials inventory, endingDirect materials usedDirect laborFactory overhead:Indirect labor$ 1,250,00037,00053,90062,700175,600225,000Prepare its schedule of cost of goods manufactured for the year ended December 31.Repairs-Factory equipmentRent cost of factory building47,00023,00057,00094,000129,30042,70041,50067,300DELRAY MANUFACTURINGSchedule of Cost of Goods ManufacturedFor Year Ended December 31$37,000175,600$ 212,60042,70047,0005,250 X57,000$ 169,900225,000Total factory overheadTotal manufacturing costsAdd: Work in process inventory, beginningTotal cost of work in processLess: Work in process inventory, ending41,500Cost of goods manufactured$516,550*Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no pointsdeducted.$109,250504,15053,900558,050

[The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,250,000 37,000 53,900 62,700 175, 600 225,000 47,000 23,000 57,000 94,000 129,300 42,700 41,500 67,300 Prepare its schedule of cost of goods manufactured for the year ended December 31.

[The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,250,000 37,000 53,900 62,700 175, 600 225,000 47,000 23,000 57,000 94,000 129,300 42,700 41,500 67,300 Prepare its schedule of cost of goods manufactured for the year ended December 31.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter9: Working Capital

Section: Chapter Questions

Problem 39P

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