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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
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. Off On Company Company Materials inventory, December 1 $89,070 $116,680 131,850 Materials inventory, December 31 (a) 226,240 (a) Materials purchased Cost of direct materials used in production 238,710 (b) Direct labor 335,790 262,530 Factory overhead 104,210 130,680 Total manufacturing costs incurred in December (b) 754,920 849,720 1,036,120 171,010 281,200 Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured 144,290 (c) 747,920 150,530 130,680 Finished goods inventory, December 1 Finished goods inventory, December 31 157,650 (d) Sales 1,312,890 1,166,800 Cost of goods sold (d) 754,920 Gross profit (e) (e) Operating expenses 171,010 (6) Net income () 259,030 Required: 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
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