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 $73,850 $99,700 Materials inventory, December 31 (a) 112,660 Materials purchased 187,580 (a) Cost of direct materials used in production 197,920 (b) Direct labor 278,410 224,330 Factory overhead 86,400 111,660 Total manufacturing costs incurred in December (b) 645,060 Total manufacturing costs 704,520 885,340 Work in process inventory, December 1 141,790 240,280 Work in process inventory, December 31 119,640 (c) Cost of goods manufactured (c) 639,080 Finished goods inventory, December 1 124,810 111,660 Finished goods inventory, December 31 130,710 (d) Sales 1,088,550 997,000 Cost of goods sold (d) 645,060 Gross profit (e) (e) Operating expenses 141,790 (f) Net income (f) 221,330 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 67a98e04d022f94_1 63,510 $fill in the blank 67a98e04d022f94_2 322,030 b. $fill in the blank 67a98e04d022f94_3 562,730 $fill in the blank 67a98e04d022f94_4 309,070 c. $fill in the blank 67a98e04d022f94_5 726,670 $fill in the blank 67a98e04d022f94_6 486,540 d. $fill in the blank 67a98e04d022f94_7 720,770 $fill in the blank 67a98e04d022f94_8 105,680 e. $fill in the blank 67a98e04d022f94_9 367,780 $fill in the blank 67a98e04d022f94_10 351,940 f. $fill in the blank 67a98e04d022f94_11 225,990 $fill in the blank 67a98e04d022f94_12 130,610 Feedback Area Feedback 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 Work in process inventory, December 1 $Work in process inventory, December 1 Direct materials: Materials inventory, December 1 $Materials inventory, December 1 Purchases Purchases Cost of materials available for use $Cost of materials available for use Less materials inventory, December 31 Less materials inventory, December 31 Cost of direct materials used in production $Cost of direct materials used in production Direct labor Direct labor Factory overhead Factory overhead Total manufacturing costs incurred during December fill in the blank 1765cff82002055_17 Total manufacturing costs $fill in the blank 1765cff82002055_18 Less work in process inventory, December 31 Less work in process inventory, December 31 Cost of goods manufactured $Cost of goods manufactured Feedback Area Feedback 2. The cost of goods manufactured is the beginning work in process plus the cost of direct materials used in production plus direct labor and factory overhead, less the ending work in process. Question Content Area 3. Prepare On Company's income statement for December. On Company Income Statement For the Month Ended December 31 Sales $Sales Cost of goods sold: Finished goods inventory, December 1 $Finished goods inventory, December 1 Cost of goods manufactured Cost of goods manufactured Cost of finished goods available for sale $Cost of finished goods available for sale Less finished goods inventory, December 31 Less finished goods inventory, December 31 Cost of goods sold Cost of goods sold Gross profit $Gross profit Operating expenses Operating expenses Net income $Net income Feedback Area Feedback