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 off Company Company Materials inventory, December 11 $60,200 $110,320 Materials wwventory, December 31 (a) 124,715 Materials purchased 218,900 (a) Cost of direct matenals used in production 254,100 (b) Direct labor 325,000 248,200 Factory overhead 100,060 123,590 Total manufacturing costs incurred in December (b) 713,690 Total manufacturing costs 645,480 979,830 Work in process inventory, December 1 165,520 265,940 Work in process inventory, December 311 139,640 (c) Cost of goods manufactured (c) 707,270 Finished goods inventory, December 11 145,690 124,215 Finished goods inventory, December 311 Sales 152,550 (d) 1,270,720 1.103,600 Cost of goods sold Gross profit Operating expenses (4) 714,495 (e) (e) 165,500 (0) (0 244,565 Net income Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company $100000 a. b. C. d. e. f. 2. Prepare On Company's statement of cost of goods manufactured for December Note: If an amount should be subtracted, begin entry with a minus () sign. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Direct materials: 10000 0000 000 Total manufacturing costs incurred during December Total manufacturing costs ali Mu Work 3. Prepare On Company's income statement for December. Note: If an amount should be subtracted, begin entry with a minus (-) sign. On Company Income Statement For the Month Ended December 31 Cost of goods sold: Check My Work Chapter 15 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 Off Company Company Materials inventory, December 1 $86,200 $110,320 Materials inventory, December 31 (0) 124,715 Materials purchased 218,900 (a) Cost of direct materials used in production i 254,100 (b) Direct labor 325,000 248,290 Factory overhead 100,860 123,590 Total manufacturing costs incurred in December (b) 713,890 Total manufacturing costs 845,480 979,830 Work in process inventory, December 1 165,520 265,940 Work in process inventory, December 311 139,640 (c) Cost of goods manufactured (c) 707,270 Finished goods inventory, December 1 145,690 124,215 Finished goods inventory, December 31 152,550 (d) Sales 1,270,720 1,103,600 Cost of goods sold i (d) 714,495) Gross profit (e) (e) Operating expenses 165,500 (f) Net income: (f) 244,565