1. 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	$88,410		$118,470
   Materials inventory, December 31	(a)		133,870
   Materials purchased	224,560		(a)
   Cost of direct materials used in production	236,940		(b)
   Direct labor	333,310		266,560
   Factory overhead	103,440		132,690
   Total manufacturing costs incurred in December	(b)		766,500
   Total manufacturing costs	843,440		843,440
   Work in process inventory, December 1	169,750		285,510
   Work in process inventory, December 31	143,220		(c)
   Cost of goods manufactured	(c)		759,390
   Finished goods inventory, December 1	149,410		132,690
   Finished goods inventory, December 31	156,490		(d)
   Sales	1,303,160		1,184,700
   Cost of goods sold	(d)		766,500
   Gross profit	(e)		(e)
   Operating expenses	169,750		(f)
   Net income	(f)		263,000

   Required:

   Question Content Area

   1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.

   Letter	On Company	Off Company
   a.	$fill in the blank 000b9c002fac047_1	$fill in the blank 000b9c002fac047_2
   b.	$fill in the blank 000b9c002fac047_3	$fill in the blank 000b9c002fac047_4
   c.	$fill in the blank 000b9c002fac047_5	$fill in the blank 000b9c002fac047_6
   d.	$fill in the blank 000b9c002fac047_7	$fill in the blank 000b9c002fac047_8
   e.	$fill in the blank 000b9c002fac047_9	$fill in the blank 000b9c002fac047_10
   f.	$fill in the blank 000b9c002fac047_11	$fill in the blank 000b9c002fac047_12

   Question Content Area

   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

   Indirect laborMachinery depreciationSuppliesWork in process inventory, December 1			$- Select -
   Direct materials:
   Direct laborFactory overheadMaterials inventory, December 1Work in process inventory, December 31	$- Select -
   Factory overheadOperating expensesPurchasesSales	- Select -
   Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for use	$- Select -
   Indirect laborMaterials inventory, December 31Work in process inventory, December 1Work in process inventory, December 31	- Select -
   Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for use		$- Select -
   Cost of goods soldDirect laborIndirect laborWork in process inventory, December 1		- Select -
   Cost of materials available for useDirect materialsFactory overheadPurchases		- Select -
   Total manufacturing costs incurred during December			fill in the blank 42af0e0ac06df84_17
   Total manufacturing costs			$fill in the blank 42af0e0ac06df84_18
   Cost of materials available for useDirect materialsMaterials inventory, December 31Work in process inventory, December 31			- Select -
   Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for use			$- Select -

   Question Content Area

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

   On Company Income Statement For the Month Ended December 31

   Cost of goods soldGross profitIndirect laborSales		$- Select -
   Cost of goods sold:
   Finished goods inventory, December 1Finished goods inventory, December 31Operating expensesSales	$- Select -
   Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for use	- Select -
   Cost of direct materials used in productionCost of finished goods available for saleCost of goods manufacturedCost of materials available for use	$- Select -
   Finished goods inventory, December 1Finished goods inventory, December 31Operating expensesSales	- Select -
   Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for use		- Select -
   Cost of goods soldGross profitOperating expensesSales		$- Select -
   Direct laborFactory overheadFinished goods inventory, December 1Operating expenses		- Select -
   Net incomeNet loss		$- Select -

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