Calculator eBook Several items are omitted from the income statement and cost of goods manufactured On off Company Company $56,450 $76,210 Materials inventory, December 1 (a) 86,120 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 143,380 171,470 151,290 212,820 66,050 85,360 (b) 493,080 538,530 538,540 108,380 183,670 Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 91,450 (c) 488,510 95,40085,360 99,920 Sales Cost of goods sold Gross profit Operating expenses Net income Required: 832,070 762,100 (d) 493,080 108,380 (f) 169,190 1. Determine the amounts of the missing items, identifying them by letter. Enter all amount Check My Work 5 more Check My Work uses remaining. 99,920 ished goods inventory, December 31 832,070 762,100 ales (d) 493,080 ost of goods sold ross profit 108,380 perating expenses Net income Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amoun (f) 169,190 Letter On Company Off Company 48,540 V 422,250 X 555,460x 550,940 x 281,130 | 172,750 | b. C. e. f. Feedback Check My Work a. The cost of direct materials used in production includes the beginning materials inventory plus purch b. Total manufacturing costs incurred during December include direct materials, direct labor, and factor c. The cost of goods manufactured is beginning work in process plus total manufacturing costs less the d. The cost of goods sold is the beginning finished goods plus the cost of goods manufactured, less the e. Sales minus cost of goods sold equals gross profit. minns nneratinn nxnnnnns .nis net Check My Work 5 more Check My Work uses remaining All work saved