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Just need help figuring out the numbers ( Please do it in text format) Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items
Just need help figuring out the numbers ( Please do it in text format)
Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December On Off Company Company $58,640 $ 73,890 (a) 83,500 Materials inventory, December 1 , Materials inventory, December 31 , Materials purchased Cost of direct materials used in production Direct labor 148,950 (a) 157,160 (b) 221,070 166,250 Factory overhead 68,610 82,760 (b) 478,070 559,430 656,140 112,590 178,070 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, December 1 Finished goods inventory, December 31 95,000 (c) (c) 473,630 99,100 82,760 103,790 (d) 864,350 738,900 (d) 478,070 Sales Cost of goods sold Gross profit Operating expenses (e) (e) 112,590 (f) Net income (f) 164,040 Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company a. $ b. $ $ C. $ $ d. $ $ e. $ f. $ 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Less materials inventory, December 31 Cost of direct materials used $ Direct labor Factory overhead Total manufacturing costs incurred Total manufacturing costs Less work in process inventory, December 31 Cost of goods manufactured 3. Prepare On Company's income statement for December. On Company Income Statement For the Month Ended December 31 Sales Cost of goods sold: Finished goods inventory, December 1 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, December 31 Cost of goods sold Gross profit 020) Operating expenses Net income
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