Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are amitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December On On Company Company Materials Inventory, December 1 $58,120 $79,040 Materials inventory, December 31 (a) 89,320 Materials purchased 147,620 Cost of direct materials used in production 155,760 (b) Direct labor 219,110 177,840 Factory overhead 68,000 88,520 Total manufacturing costs incurred in December (b) 511,390 Total manufacturing costs 554,460 554,460 Work in process inventory, December 1 111,590 190,490 Work in process inventory, Decemb 31 94,150 (c) Cost of goods manufactured (c) 506,650 Finished goods inventory, December 1 98,220 88,520 Finished goods inventory, December 31 102,870 (d) Sales 856,690 790,400 Cost of goods sold (d) 511,390 Gross profit (e) (e) Operating expenses 111,590 (0) Net Income (0 175,470 Required: Assignment - Homework Required: 1. Denners of the mingitems, contifying them by terramentas e tive umbes Letter On Company Off Company 8. b. G d E . 2. Prepare on Company's statement of cost of goods manufactured for December On Company Statement of Cost of Good Manufactured For the Month Ended December 31 Direct material: DODO 3. Prepare On Company's income statement for December On Company Income Statement For the Month Ended December 31 Cost of goods sold: 0000