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 Off Company Company $90,870 $123,580 Materials inventory, December 1 Materials inventory, December 31 Materials purchased (a) 139,650 230,810 (a) Cost of direct materials used in production 243,530 (b) Direct labor 342,580 278,060 Factory overhead 106,320 138,410 Total manufacturing costs incurred in December (b) 799,560 Total manufacturing costs 866,900 866,900 Work in process inventory, December 1 174,470 297,830 147,210 (c) Work in process inventory, December 31 Cost of goods manufactured (c) 792,150 153,570 138,410 Finished goods inventory, December 1 Finished goods inventory, December 31 160,840 (d) Sales 1,339,420 1,235,800 Cost of goods sold (d) 799,560 Gross profit (e) (e) Operating expenses 174,470 Net income (f) 274,350 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. 78,150 b. 692,430 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. 78,150 $ b. 692,430 v $ C. 719,690 $ d. $ 712,420 $ 627,000 436,240 452,530 Feedback Check My Work 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 Work in process inventory, December 1 174,470 Direct materials: Materials inventory, December 1 90,870 Purchases 230,810 Cost of materials available for use 321,680 Materials inventory, December 31 78,150 Cost of direct materials used in production Direct labor 200 Factory overhead Check My Work Purchases 230,810 Cost of materials available for use 321,680 Materials inventory, December 31 78,150 Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs ID)) Work in process inventory, December 31 Cost of goods manufactured 3. Prepare On Company's income statement for December. On Company Income Statement For the Month Ended December 31 Cost of goods sold