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 Company		Off Company
Materials inventory, December 1	$74,790		$99,470
Materials inventory, December 31	(a)		112,400
Materials purchased	189,970		(a)
Cost of direct materials used in production	200,440		(b)
Direct labor	281,960		223,810
Factory overhead	87,500		111,410
Total manufacturing costs incurred in December	(b)		643,570
Total manufacturing costs	713,500		883,290
Work in process inventory, December 1	143,600		239,720
Work in process inventory, December 31	121,160		(c)
Cost of goods manufactured	(c)		637,600
Finished goods inventory, December 1	126,400		111,410
Finished goods inventory, December 31	132,380		(d)
Sales	1,102,400		994,700
Cost of goods sold	(d)		643,570
Gross profit	(e)		(e)
Operating expenses	143,600		(f)
Net income	(f)		220,820

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
			$
Direct materials:
	$
	$
		$
Total manufacturing costs incurred during December
Total manufacturing costs			$
			$

3. Prepare On Company's income statement for December.

On Company
Income Statement
For the Month Ended December 31
		$
Cost of goods sold:
	$
	$
		$
		$