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 Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income $75,870 $96,350 (a) 108,880 192,710 216,790 203,330 286,030 88,770 107,910 (b) 623,380 723,800 723,800 145,670 232,200 122,910 (c) 617,600 128,220 107,910 134,290 1,118,320 963,500 (d) 623,380 45,670 (f) 213,900