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:

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 27dc60ffbfb1042_1	$fill in the blank 27dc60ffbfb1042_2
b.	$fill in the blank 27dc60ffbfb1042_3	$fill in the blank 27dc60ffbfb1042_4
c.	$fill in the blank 27dc60ffbfb1042_5	$fill in the blank 27dc60ffbfb1042_6
d.	$fill in the blank 27dc60ffbfb1042_7	$fill in the blank 27dc60ffbfb1042_8
e.	$fill in the blank 27dc60ffbfb1042_9	$fill in the blank 27dc60ffbfb1042_10
f.	$fill in the blank 27dc60ffbfb1042_11	$fill in the blank 27dc60ffbfb1042_12

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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

Indirect laborMachinery depreciationSuppliesWork in process inventory, December 1Work in process inventory, December 1			$Work in process inventory, December 1
Direct materials:
Direct laborFactory overheadMaterials inventory, December 1Work in process, December 31Materials inventory, December 1	$Materials inventory, December 1
Factory overheadOperating expensesPurchasesSalesPurchases	Purchases
Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for useCost of materials available for use	$Cost of materials available for use
Less indirect laborLess materials inventory, December 31Less work in process inventory, December 1Less work in process, December 31Less materials inventory, December 31	Less materials inventory, December 31
Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for useCost of direct materials used in production		$Cost of direct materials used in production
Cost of goods soldDirect laborIndirect laborWork in process inventory, December 1Direct labor		Direct labor
Cost of materials available for useDirect materialsFactory overheadPurchasesFactory overhead		Factory overhead
Total manufacturing costs incurred during December			fill in the blank c8b06af8b06b021_17
Total manufacturing costs			$fill in the blank c8b06af8b06b021_18
Less cost of materials available for useLess direct materialsLess materials inventory, December 31Less work in process inventory, December 31Less work in process inventory, December 31			Less work in process inventory, December 31
Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for useCost of goods manufactured			$Cost of goods manufactured

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3. Prepare On Company's income statement for December.

On Company Income Statement For the Month Ended December 31

Cost of goods soldGross profitIndirect laborSales		$- Select -
Cost of goods sold:
Finished goods inventory, December 1Finished goods inventory, December 31Gross operating expensesSales	$- Select -
Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for use	- Select -
Cost of direct materials used in productionCost of finished goods available for saleCost of goods manufacturedCost of materials available for use	$- Select -
Less finished goods inventory, December 1Less finished goods inventory, December 31Less operating expensesLess sales	- Select -
Cost of direct materials used in productionCost of goods manufacturedCost of goods soldCost of materials available for use		- Select -
Cost of goods soldGross profitOperating expensesSales		$- Select -
Direct laborFactory overheadFinished goods inventory, December 1Operating expenses		- Select -
Net incomeNet loss		$- Select -

Really just need the income statement!