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	$59,130		$79,830
Materials inventory, December 31	(a)		90,210
Materials purchased	150,190		(a)
Cost of direct materials used in production	158,470		(b)
Direct labor	222,920		179,620
Factory overhead	69,180		89,410
Total manufacturing costs incurred in December	(b)		516,500
Total manufacturing costs	564,100		564,100
Work in process inventory, December 1	113,530		192,390
Work in process inventory, December 31	95,790		(c)
Cost of goods manufactured	(c)		511,710
Finished goods inventory, December 1	99,930		89,410
Finished goods inventory, December 31	104,660		(d)
Sales	871,580		798,300
Cost of goods sold	(d)		516,500
Gross profit	(e)		(e)
Operating expenses	113,530		(f)
Net income	(f)		177,220

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 6f2fd5f3c04b013_1	$fill in the blank 6f2fd5f3c04b013_2
b.	$fill in the blank 6f2fd5f3c04b013_3	$fill in the blank 6f2fd5f3c04b013_4
c.	$fill in the blank 6f2fd5f3c04b013_5	$fill in the blank 6f2fd5f3c04b013_6
d.	$fill in the blank 6f2fd5f3c04b013_7	$fill in the blank 6f2fd5f3c04b013_8
e.	$fill in the blank 6f2fd5f3c04b013_9	$fill in the blank 6f2fd5f3c04b013_10
f.	$fill in the blank 6f2fd5f3c04b013_11	$fill in the blank 6f2fd5f3c04b013_12

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
			$fill in the blank 7cdbca02005eff1_2
Direct materials:
	$fill in the blank 7cdbca02005eff1_4
	fill in the blank 7cdbca02005eff1_6
	$fill in the blank 7cdbca02005eff1_8
	fill in the blank 7cdbca02005eff1_10
		$fill in the blank 7cdbca02005eff1_12
		fill in the blank 7cdbca02005eff1_14
		fill in the blank 7cdbca02005eff1_16
Total manufacturing costs incurred during December			fill in the blank 7cdbca02005eff1_17
Total manufacturing costs			$fill in the blank 7cdbca02005eff1_18
			fill in the blank 7cdbca02005eff1_20
			$fill in the blank 7cdbca02005eff1_22

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

On Company
Income Statement
For the Month Ended December 31
		$fill in the blank 167d2900005efe1_2
Cost of goods sold:
	$fill in the blank 167d2900005efe1_4
	fill in the blank 167d2900005efe1_6
	$fill in the blank 167d2900005efe1_8
	fill in the blank 167d2900005efe1_10
		fill in the blank 167d2900005efe1_12
		$fill in the blank 167d2900005efe1_14
		fill in the blank 167d2900005efe1_16
		$fill in the blank 167d2900005efe1_18