I need help with the following I got incorrect
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 1 $281,680.00 $179,000.00 Materials inventory, December 1 7 Materials inventory, December 31 (a) 175,500.00 Materials purchased 714,000.00 341,500.00 SCost of direct materials used in production 752,400.00 (a) 6 Direct labor 1,058,800.00 (b) 178,600.00 Factory overhead 325,400.00 1,038,000.00 Total manufacturing costs incurred during December (b) Total manufacturing costsi 2,677,200.00 1,481,500.00 540,600.00 Work in process inventory, December 1 443,500.00 10 Work in process inventory, December 31 453,200.00 (c) 11 1,025,500.00 12 Cost of goods manufactured (c) 477,800.00 201,500.00 13 Finished goods inventory, December 1 14 Finished goods inventory, December 31 496,400.00 (d) 1,678,000.00 15 Sales 4,140,000.00 Cost of goods sold (d) 1,042,000.00 16 (e) Gross profit (e) 17 (n) 18 Operating expenses 543,000.00 380,500.00 19 Net income Required: A. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. B. Prepare Volt Company's statement of cost of goods manufactured for December. C. Prepare Volt Company's income statement for December, Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Less" or "Plus" wil automatically appear if it is required. Enter al amounts as positive numbers Amount Descriptions Amount Descriptions 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 B. Prepare Voit Company's statement of cost of goods manufactured for December. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Less or "Plus" will automatically appear if it is required. Enter all amounts as posifive numbers. Voit Company Score: 83/100 Statement of Cost of Goods Manufactured e Month Ended December 31, 2016 For $443,500,00 1Work in process inventory, December 1, 2016 2 Direct materials $179,000.00 3Materials inventory, December 1, 2016 341500.00 Purchases 4 Cost of materials available for use 175,500.00 Less materials inventory, December 31, 2016 6 Cost of direct materials used in production $345,000.00 7 514.400.00 8 Direct labor 178,600.00 9 Factory overhead 1038,000,00 10 Total manufacturing costs incurred during December $1.481.500.00 11 Total manufacturing costs 12 Less Work in process inventory, December 1, 2016 45.600,00 $1,025,500.00 13 Cost of goods sold C. Prepare Volt Company's income statement for December. Refer to the Amount Descriptionns list provided for the exact wording of the answer chaices for text entries. Less c "Plus" will automatically appear if t is required. Enter all amounts as positive numbers Score: 65/76 Volt Company Income Statement For the Month Ended December 31, 2016 $1678,000,00 1Sales 2 Cost of goods sold: 3finished goods inventory, December 31, 2016 4Cost of goods manufactured 1025.500,00 Cost of finished goods available for sale $201,500.00 185,000,00 6 Less finished goods inventory, December 31, 2016 Cost of goods sold 1042000,00 $636,000.00 8 Gross profit 255,500.00 9 Operating expenses $380,500.00 10 Net income Points: 15.39/18
