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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:
On Company | Off Company | |||
Materials inventory, December 1 | $65,800 | $195,300 | ||
Materials inventory, December 31 | (a) | 91,140 | ||
Materials purchased | 282,800 | (a) | ||
Cost of direct materials used in production | 317,800 | (b) | ||
Direct labor | 387,800 | 577,220 | ||
Factory overhead | 148,400 | 256,060 | ||
Total manufacturing costs incurred in December | (b) | 1,519,000 | ||
Total manufacturing costs | 973,000 | 1,727,320 | ||
Work in process inventory, December 1 | 119,000 | 208,320 | ||
Work in process inventory, December 31 | 172,200 | (c) | ||
Cost of goods manufactured | (c) | 1,532,020 | ||
Finished goods inventory, December 1 | 224,000 | 269,080 | ||
Finished goods inventory, December 31 | 197,400 | (d) | ||
Sales | 1,127,000 | 1,944,320 | ||
Cost of goods sold | (d) | 1,545,040 | ||
Gross profit | (e) | (e) | ||
Operating expenses | 117,600 | (f) | ||
Net income | (f) | 164,920 |
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 3bfb2c0a205407f_1 | $fill in the blank 3bfb2c0a205407f_2 |
b. | $fill in the blank 3bfb2c0a205407f_3 | $fill in the blank 3bfb2c0a205407f_4 |
c. | $fill in the blank 3bfb2c0a205407f_5 | $fill in the blank 3bfb2c0a205407f_6 |
d. | $fill in the blank 3bfb2c0a205407f_7 | $fill in the blank 3bfb2c0a205407f_8 |
e. | $fill in the blank 3bfb2c0a205407f_9 | $fill in the blank 3bfb2c0a205407f_10 |
f. | $fill in the blank 3bfb2c0a205407f_11 | $fill in the blank 3bfb2c0a205407f_12 |
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