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Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,308,000 Raw...

Required information

The following selected account balances are provided for Delray Mfg.

Sales $ 1,308,000
Raw materials inventory, beginning 44,000
Work in process inventory, beginning 56,500
Finished goods inventory, beginning 68,100
Raw materials purchases 158,500
Direct labor 247,000
Factory supplies used (indirect materials) 23,600
Indirect labor 45,000
Repairs—Factory equipment 5,250
Rent cost of factory building 58,000
Advertising expense 110,000
General and administrative expenses 135,000
Raw materials inventory, ending 45,900
Work in process inventory, ending 47,400
Finished goods inventory, ending 65,900

Prepare an income statement for Delray Mfg. (a manufacturer).

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