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Use the following selected account balances of Delray Manufacturing for the year ended December 31. $ 1,650,000 70,000 91,000 118,000 322,000 386,000 58,000 46,000 92,000 147,000 235,000 84,000 109,000 142,000 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

Use the following selected account balances of Delray Manufacturing for the year ended December 31. $ 1,650,000 70,000 91,000 118,000 322,000 386,000 58,000 46,000 92,000 147,000 235,000 84,000 109,000 142,000 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

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 1E: Inventory Accounts for a Manufacturing Company Fujita Company produces a single product. Costs...
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! 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 $ 1,650,000 Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases 70,000 91,000 118,000 322,000 386,000 58,000 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 46,000 92,000 147,000 235,000 84,000 109,000 142,000
Transcribed Image Text:! 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 $ 1,650,000 Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases 70,000 91,000 118,000 322,000 386,000 58,000 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 46,000 92,000 147,000 235,000 84,000 109,000 142,000
Prepare its schedule of cost of goods manufactured for the year ended December 31. DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials: Raw materials available for use $ Direct materials used $ Factory overhead: Total factory overhead Total manufacturing costs $ Total cost of work in process Cost of goods manufactured $ %24 %24 %24 %24
Transcribed Image Text:Prepare its schedule of cost of goods manufactured for the year ended December 31. DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials: Raw materials available for use $ Direct materials used $ Factory overhead: Total factory overhead Total manufacturing costs $ Total cost of work in process Cost of goods manufactured $ %24 %24 %24 %24
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