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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
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 Materials inventory, December 1 $58,810 $79,980 Materials inventoryDecember 31 90,380 Materials purchased149,380 Cost of direct materials used in production 157,610 Direct labor 221,710 179,960 Factory overhead 68,810 89,580 Total manufacturing costs incurred in December 517,470 Total manufacturing costs 561,050 710,220 Work in process inventoryDecember 1 112,920 192,750 Work process inventory, December 31 95,270 Cost of goods manufactured 512,670 Finished goods inventory, December 1 99,390 89,580 Finished goods inventoryDecember 31 104,090 ( Sales866,860 799,800 Cost of goods sold (d) 517,470
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