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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 $76,800 $98,300
Materials inventory, December 31 (a) 111,080
Materials purchased 195,070 (a)
Cost of direct materials used in production 205,820 (b)
Direct labor 289,540 221,180
Factory overhead 89,860 110,100
Total manufacturing costs incurred in December (b) 636,000
Total manufacturing costs 732,680 872,900
Work in process inventory, December 1 147,460 236,900
Work in process inventory, December 31 124,420 (c)
Cost of goods manufactured (c) 630,100
Finished goods inventory, December 1 129,790 110,100
Finished goods inventory, December 31 135,940 (d)
Sales 1,132,030 983,000
Cost of goods sold (d) 636,000
Gross profit (e) (e)
Operating expenses 147,460 (f)
Net income (f) 218,230

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 bd4106f9fff4037_1 $fill in the blank bd4106f9fff4037_2
b. $fill in the blank bd4106f9fff4037_3 $fill in the blank bd4106f9fff4037_4
c. $fill in the blank bd4106f9fff4037_5 $fill in the blank bd4106f9fff4037_6
d. $fill in the blank bd4106f9fff4037_7 $fill in the blank bd4106f9fff4037_8
e. $fill in the blank bd4106f9fff4037_9 $fill in the blank bd4106f9fff4037_10
f. $fill in the blank bd4106f9fff4037_11 $fill in the blank bd4106f9fff4037_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 4025ca003f8605d_2
Direct materials:
$fill in the blank 4025ca003f8605d_4
fill in the blank 4025ca003f8605d_6
$fill in the blank 4025ca003f8605d_8
fill in the blank 4025ca003f8605d_10
$fill in the blank 4025ca003f8605d_12
fill in the blank 4025ca003f8605d_14
fill in the blank 4025ca003f8605d_16
Total manufacturing costs incurred during December fill in the blank 4025ca003f8605d_17
Total manufacturing costs $fill in the blank 4025ca003f8605d_18
fill in the blank 4025ca003f8605d_20
$fill in the blank 4025ca003f8605d_22

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

On Company
Income Statement
For the Month Ended December 31
$fill in the blank 611d20005fff026_2
Cost of goods sold:
$fill in the blank 611d20005fff026_4
fill in the blank 611d20005fff026_6
$fill in the blank 611d20005fff026_8
fill in the blank 611d20005fff026_10
fill in the blank 611d20005fff026_12
$fill in the blank 611d20005fff026_14
fill in the blank 611d20005fff026_16
$fill in the blank 611d20005fff026_18

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