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	$87,370		$110,090
Materials inventory, December 31	(a)		124,400
Materials purchased	221,920		247,700
Cost of direct materials used in production	234,150		(a)
Direct labor	329,380		(b)
Factory overhead	102,220		123,300
Total manufacturing costs incurred in December	(b)		712,280
Total manufacturing costs	833,510		833,500
Work in process inventory, December 1	167,750		265,320
Work in process inventory, December 31	141,540		(c)
Cost of goods manufactured	(c)		705,680
Finished goods inventory, December 1	147,660		123,300
Finished goods inventory, December 31	154,640		(d)
Sales	1,287,830		1,100,900
Cost of goods sold	(d)		712,280
Gross profit	(e)		(e)
Operating expenses	167,750		(f)
Net income	(f)		244,400

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:
	$
	$
		$
		$