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	$79,090		$102,820
Materials inventory, December 31	(a)		116,190
Materials purchased	200,890		(a)
Cost of direct materials used in production	211,960		(b)
Direct labor	298,170		231,350
Factory overhead	92,540		115,160
Total manufacturing costs incurred in December	(b)		665,250
Total manufacturing costs	754,520		913,050
Work in process inventory, December 1	151,850		247,800
Work in process inventory, December 31	128,130		(c)
Cost of goods manufactured	(c)		659,080
Finished goods inventory, December 1	133,660		115,160
Finished goods inventory, December 31	139,990		(d)
Sales	1,165,790		1,028,200
Cost of goods sold	(d)		665,250
Gross profit	(e)		(e)
Operating expenses	151,850		(f)
Net income	(f)		228,260

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:
	$
	$
		$
		$