1.Determine the amounts of the missing items, identify them by letter.

2. Prepare Volt Companys statement of cost of goods manufactured for December.

3. Prepare Volt Companys income statement for December.

Several items are omitted form the income statement and cost of goods manufactured statement for two different companies for the month of December 2014:

The first figure represents the Prius Company, the second figure represents the Volt Company

Materials inventory, December 1: $280,280; $177,000

Materials inventory, December 31: (a); 180,000

Materials purchased: 712,800; 342,000

Cost of direct materials used in production: 752,400; (a)

Direct labor: 1,058,400; (b)

Factory overhead: 327,600; 180,000

Total manufacturing costs incurred during December: (b); 1,035,000

Total manufacturing costs: 2,678,400; 1,477,500

Work in process inventory, December 1: 540,000; 442,500

Work in process inventory, December 31: 453,600; (c)

Cost of goods manufactured: (c); 1,024,500

Finished goods invenotry, December 1: 475,200; 204,000

Finished goods inventory, December 31: 496,800; (d)

Sales: 4,140,000; 1,675,500

Cost of goods sold: (d); 1,051,000

Gross profit: (e); (e)

Operating expenses: 540,000; (f)

Net income: (f); 384,000