Please do not give solution in image format thanku Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,247,000.Cost of goods sold:Goods available for saleCost of goods soldNet incomeDELRAY MANUFACTURINGIncome StatementFor Year Ended December 310$00 Required information[The following information applies to the questions displayed below.]Use the following selected account balances of Delray Manufacturing for the year ended December 31.SalesRaw materials inventory, beginningWork in process inventory, beginningFinished goods inventory, beginningRaw materials purchasesDirect laborIndirect laborRepairs-Factory equipmentRent cost of factory buildingSelling expensesGeneral and administrative expensesRaw materials inventory, endingWork in process inventory, endingFinished goods inventory, ending.$ 2,400,000100,000130,000169,000460,000MERHUER552,00083,00066,000132,000211,000338,000120,000.156,000203,000Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,247,000.

Cost of goods sold - the total direct cost related to the manufacturing or production of goods. It…

Answered: Cost of goods sold: Goods available for…

Cost of goods sold: Goods available for sale Cost of goods sold Net income DELRAY MANUFACTURING Income Statement For Year Ended December 31 0 $ 0 0

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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Question

Please do not give solution in image format thanku

Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,247,000.
Cost of goods sold:
Goods available for sale
Cost of goods sold
Net income
DELRAY MANUFACTURING
Income Statement
For Year Ended December 31
0
$
0
0

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.
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.
$ 2,400,000
100,000
130,000
169,000
460,000
MERHUER
552,000
83,000
66,000
132,000
211,000
338,000
120,000.
156,000
203,000
Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,247,000.

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