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 $88,880 (a) oll Company $119,990 135,590 225,760 238,200 (b) 269,980 335,080 103,990 (b) 134,390 776,340 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 847,920 289,180 847,920 170,650 143,990 (c) 150,210 (C) 769.140 157,320 1,310,090 (d) 134.390 (d) 1.199,900 776,340 Finished goods inventory, December 31 157320 1,310,090 (d) 1,199,900 776,340 (o) (0) Cost of goods sold Gross profit Operating expenses Net Income (e) 170,650 266,380 Required: 1. Determine the amounts of the missing Items, Identifying them by letter. Enter all amounts as positive numbers. Letter On Company off Company 76,440 $ 76,440 x $ C 5 d. e. 1. 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 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Materials inventory, December 31 Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs Work in process inventory, December 31 Cost of goods manufactured 000 Total manufacturing costs incurred during December Total manufacturing costs Work in process inventory, December 31 Cost of goods manufactured Feedback Check My Work 2. The cost of goods manufactured is the beginning work in process plus the cost of direct materials used in production plus direct labor and factory overhead, less the ending work in process 3. Prepare on Company's income statement for December On Company Income Statement For the Month Ended December 31 Sales Cost of goods sold: Finished goods inventory, December 1 Cost of goods manufactured Cost of finished goods available for sale Sales o Cost of goods sold: Finished goods inventory, December 1 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, December 31 QOQO Cost of goods sold Gross profit Operating expenses Net income