Manufacturing income statement, statement of cost of goods manufactured instructions Amount Descriptions Starting QuestionStatement of Cost of Goods Man Instructions Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May Rainier Company Yakima Company 177500.00 175,500.00 41,100.00 Materials inventory, May Materials inventory, May 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead 281,960.00 $ s 13,600.00 752,000.00 1,060,000.00 327800.00 5 6 8 Total manufacturing costs incurred in May 9 Total manufacturing costs 0 Work in process inventory, May 1 179,000.00 1,036,000.00 81600.00 1,479,000.00 443,000.00 41,800.00 Manufacturing income statement, statement of cost of goods manufactured Instructions Amount Descriptions Starting Question Statement of Cost of Goods Manu Instructions 10 Work in process inventory, May 1 11 Work in process inventory, May 31 2Cost of goods manufactured 41,800.00 443,000.00 450,800.00 1,024500.00 Finished goods inventory, May 1 Finished goods inventory, May 31 479,800.00 495,400.00 400000 1,67700000 04,500.00 15 Sales Cost of goods sold Gross profit 16 1,052,000.00 18 Operating expenses 43,000.00 19 Net income 80,700.00 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, May 1 Finished goods inventory, May 31 Gross profit Materials inventory, May 1 Materials inventory, May 31 Net income Operating expenses Purchases Sales Starting Question Shaded cells have feedback. X a. Determine the amounts of the missing items, identifying them b letter. Enter all amounts as positive numbers. Letter Rainier Company Yakima Company 243,560 $2,139,800 $2,772,60o X $2,757,000 X $1,387,000 X $844,000X 343,100 a. $513,900 b. $897,500 X $177,000V $625,000 $244,300 C. d. e. K Points:-il 7 / 12 Statement of Cost of Goods Manufactured Shaded cells he Statement of Cost of Goods red For the Month Ended May 31 1 Work in process inventory, May 1 2 Direct materials: Materials inventory, May 1 Purchases s Cost of materials available for use 6Materials inventory, May 31 7 Cost of direct materials used in production 8 Direct labor Factory overhead 10 Total manufacturing costs incurred in May 11 Total manufacturing costs 2 Work in process inventory, May 31 15 Cost of goods manufactured Income Statement Income Statement For the Month Ended May 31 1,677,000.00 1 Sales 2 Cost of goods sold 204,500.00 1,024,500.00 204,500.00 77000.00 Finished goods inventory, May 1 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory,May 31 7Cost of goods sold 105200000 $625,000.00 244,300.00 $380,700.00 8 Gross proft Operating expenses 10 Net income