Categories:

Cost of direct materials used in production
Cost of finished goods available for sale
Cost of goods manufactured
Cost of goods sold
Cost of materials available for use
Direct Labor
Factory overhead
Finished goods inventory, December 1, 2016
Finished goods inventory, December 31, 2016
Gross profit
Materials inventory, December 1, 2016
Materials inventory, December 31, 2016
Net income
Operating expenses
Purchases
Sales
Total manufacturing costs incurred during December
Work in process inventory, December 1, 2016
Work in process inventory, December 31, 2016

Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December 2016 Prius Company Volt Company $280,280.00 $177,000.00 180,000.00 342,000.00 2Materials inventory, December 1 Materials inventory, December 31 712,800.00 752,400.00 1,058,400.00 327,600.00 4 Materials purchased 5 Cost of direct materials used in production 6 Direct labor 7 Factory overhead 8 Total manufacturing costs incurred during December 9Total manufacturing costs 10 Work in process inventory, December 1 11 Work in process inventory, December 31 12 Cost of goods manufactured 15 Finished goods inventory, December 1 14 Finished goods inventory, December 31 15 Sales 16 Cost of goods sold 1Gross prorit 18 Operating expenses 9 Net income 180,000.00 1,035,000.00 1,477,500.00 442,500.00 2,678,400.00 540,000.00 453,600.00 1,024,500.00 475,200.00 496,800.00 4,140,000.00 204,000.00 1,675,500.00 1,051,500.00 540,000.00 384,000.00