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	$87,640		$116,560
Materials inventory, December 31	(a)		131,710
Materials purchased	222,610		(a)
Cost of direct materials used in production	234,880		(b)
Direct labor	330,400		262,260
Factory overhead	102,540		130,550
Total manufacturing costs incurred in December	(b)		754,140
Total manufacturing costs	836,090		1,035,050
Work in process inventory, December 1	168,270		280,910
Work in process inventory, December 31	141,980		(c)
Cost of goods manufactured	(c)		747,150
Finished goods inventory, December 1	148,110		130,550
Finished goods inventory, December 31	155,120		(d)
Sales	1,291,810		1,165,600
Cost of goods sold	(d)		754,140
Gross profit	(e)		(e)
Operating expenses	168,270		(f)
Net income	(f)		258,760

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:
	$
	$
		$
		$