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 $1$ $$65,800$ $$195,300$

Materials inventory, December $31($a$)91,140$

Materials purchased $282,800($a$)$

Cost of direct materials used in production $317,800($b$)$

Direct labor $387,800577,220$

Factory overhead $148,400256,060$

Total manufacturing costs incurred in December $($b$)1,519,000$

Total manufacturing costs $973,0001,727,320$

Work in process inventory, December $1119,000208,320$

Work in process inventory, December $31172,200($c$)$

Cost of goods manufactured $($c$)1,532,020$

Finished goods inventory, December $1224,000269,080$

Finished goods inventory, December $31197,400($d$)$

Sales $1,127,0001,944,320$

Cost of goods sold $($d$)1,545,040$

Gross profit $($e$)($e$)$

Operating expenses $117,600($f$)$

Net income $($f$)164,920$

Required:

Question Content Area

$1.$ 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 $1$ of $12$$ fill in the blank $2$ of $12$$

b$.$ fill in the blank $3$ of $12$$ fill in the blank $4$ of $12$$

c$.$ fill in the blank $5$ of $12$$ fill in the blank $6$ of $12$$

d$.$ fill in the blank $7$ of $12$$ fill in the blank $8$ of $12$$

e$.$ fill in the blank $19$ of $12$$ fill in the blank $10$ of $12$$

f$.$ fill in the blank $11$ of $12$$ fill in the blank $12$ of $12$$

Question Content Area

$2.$ 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 $31$

Costs Type Amount Amount Amount

$$-$ Select $-$

Direct materials:

$$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Total manufacturing costs incurred during December Total manufacturing costs incurred during December

Total manufacturing costs $Total manufacturing costs

$-$ Select $-$

$$-$ Select $-$

Question Content Area

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

On Company

Income Statement

For the Month Ended December $31$

Line Item Description Amount Amount

$$-$ Select $-$

Cost of goods sold:

$$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

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