Question

Chapter 14 Homework A Help Save & Exit Submit Check my work Required information The following selected account balances are provided for Delray Mfg. points Book Hint Print References Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 $ 1,135,000 40,000 59,500 64,200 164,900 227,000 23,300 52,000 5,250 58,000 95,000 131,000 49, 100 43,200 66,000 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG Income Statement

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Answer 1

Anscen. Page No O Jocome tabement for Debray g. Ca manubachuner Sales - $ 35000 Bginmning çof of geods manuhachoed finished goods fnventory = $ 64200 Particular Amount Amount Direct materials Dhect matenials inventory, dec 31,a016 $40,000 Direct materials purchases Cont of direct materiak available for xe $ 204 900 $164 900 dece 31,2017 e 49, 1 00) Direct materials nventay, Cont gf dizect mäterials placed in praductin $ 155800 Direct labor $ 224000 Factory everhead win Indirect Labor $ 52000 factony computer aopies vsed factongvepain equipmecks Rent experses - factory Total factory ovenheads $ 2 3,300 $ 5250 $ 58000 $138550

"Total manubacining conf $ 531350 $59,500 tosk in proces inventoyg, dec 31, 201G Tetal coorki in proces duing the period $580850 ( 43300) bostk in protes nventory, dec 31, d01 Cost of goods manubochined 531 650 ending frainhed goods invenhry - $66000 adminiekotive General & $ 13100 O expenses Advotining experme - $ 95000 Goers poofit e Sales- Coof gf goodn sokd "Total openating e xpermes e Operating expenaes + Selling expenes total operating expenses Netincome Guons pro fit Income fatement for Delnay Mfg., is as shocon beloco.

Pgern NO Sneome Aatement Particul aor A mount Amount Sales $1135000 Beginning finished goods inverbory 6400 Conf gf goods manubachired $634650 Goods available for sale 601850 finished goods inmentorg $ 66000, Ending Conf of goods sold ($536860 Grom Profit $ 599150 Operaling Genenal &, adminintrahive experses expenses $ 131000 Selling expenses -Ad verti sement expemes $৭৮০০০ Total openating expermes S00 Openating fncome $ 343150