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: ofr Company Company Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory, December Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December Finished goods inventory, December 31 $62,770 $80,350 (a) 90,800 159,440 180,790 168,220 236,640 73,440 89,990 (b) 519,860 598,830598,820 120,520 193,640 101,690 (c) 515,040 106,080 89,990 111,100 925,230 803,500 (d) 519,860 Cost of goods sold Gross pron Operating expenses Net income 120,520 tO () 178,380 Previous Next Submit Test for Grading