The following selected account balances are provided for Delray Mfg. Sales $ 1,165,000 Raw materials inventory, beginning 35,000 Work in process inventory, beginning 58,500 Finished goods inventory, beginning 65,600 Raw materials purchases 184,800 Direct labor 249,000 Factory supplies used (indirect materials) 16,000 Indirect labor 48,000 Repairs—Factory equipment 5,250 Rent cost of factory building 52,000 Advertising expense 95,000 General and administrative expenses 130,000 Raw materials inventory, ending 40,100 Work in process inventory, ending 46,400 Finished goods inventory, ending 72,700 Prepare its schedule of cost of goods manufactured for the current year ended December 31.

Cost of goods manufactured = $562,050

Explanation:

                    Delray Manufacturing

 Schedule of cost of goods manufactured

 For the current year ended December 31

Beginning Raw materials inventory        $35,000

Add: Raw materials purchases               $184,800

Raw materials available for sale             $219,800

Less: Ending Raw materials inventory    $(40,100)

Direct materials used                           = $179,700

Direct labor                                              $249,000

Primary cost                                            $428,700

Add: Factory Overhead

Factory supplies used           $16,000

Indirect labor                           48,000

Repairs—Factory equipment    5,250

Rent cost of factory building  52,000                      

Total factory overhead cost                    $121,250

Total manufacturing cost                     $549,950

Add: Beginning work-in-process             $58,500

Less: Ending work-in-process                $(46,400)

Cost of goods manufactured              $562,050

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