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 oft Company Company Materials inventory, December 1 $60,830 $77,250 Materials inventory, December 31 87.290 Materials purchased 154,510 (a) Cost of direct materials used in production 163,020 (b) Direct labor 229,330 173,810 Factory overhead 71,170 86,520 Total manufacturing costs incurred in December (5) 499,810 Total manufacturing costs 580,310 580,310 Work in process inventory, December 1 116,790 186,170 Work in process inventory, December 31 98,540 Cost of goods manufactured (c) 495,170 Finished goods Inventory, December 1 102,800 85,520 Finished goods inventory, December 31 107,670 (d) Sales 896,630 772,500 Cost of goods sold (d) 499,810 eBook 102,800 86,520 (d) 107,670 896,630 (d) 772,500 499,810 Finished goods inventory, December 1 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income Required: (e) (e) 116,790 () 171,500 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers, Letter On Company Off Company a. 52,320 249,520 b. $ 463,520 239,480 $ C. 271,310 X $ 598,560 X $ 81,880 d. $ 593,690 X 272,690 e. $ 302,940 X $ $ 101,190 f. 186,150 X Feedback On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 Direct materials: Materials inventory, December 1 60,830 Purchases 154,510 Cost of materials available for use 215,3407 Materials inventory, December 31 52,320 Cost of direct materials used in production 163,020 Direct labor 229,3307 Factory overhead 71.170 463.520 Total manufacturing costs incurred during December 580,310 Total manufacturing costs Work in process inventory, December 31 98.540 481.770 Cost of goods manufactured Check My Work 3. Prepare On Company's income statement for December. On Company Income Statement For the Month Ended December 31 Sales 896,630 Cost of goods sold: Finished goods inventory, December 1 102,800 Cost of goods manufactured 598,560