Several items are omitted from each of the following income statement and cost of goods manufactured statement data for the month of December 2010:

Instructions
1. Determine the amounts of the missing items, identifying them by letter.
2. Prepare a statement of cost of goods manufactured for McCain Company.
3. Prepare an income statement for McCainCompany.

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McCain Company Buffet Company $35,000 45,000 21,000 Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December1 Finished goods inventory, December 31 150,000 168,000 205,000 78,000 133,000 59,000 350,000 398,000 48,000 514,000 63,000 91,000 353,000 62,000 118,000 104,000 595,000 448,000 356,000 Cost of goods sold Gross profit Operating expenses Net income 62,000 38,000