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 $64,360 $86,240 Materials inventory, December 31 (a) 97,450 Materials purchased 163,470 (a) Cost of direct materials used in production 172,480 (b) Direct labor 242,640 194,040 Factory overhead 75,300 96,590 Total manufacturing costs incurred in December (6) 557,970 Total manufacturing costs 613,990 613,990 Work in process inventory, December 1 123,570 207,840 Work in process inventory, December 31 104,260 (c) Cost of goods manufactured (c) 552,800 Finished goods inventory, December 1 108,770 96,590 Finished goods inventory, December 31 113,920 (d) Sales 948,670 862,400 Cost of goods sold (d) 557,970 Gross profit (e) (e) Operating expenses 123,570 ( (0) 191,450 Net income Finished goods inventory, December 1 113,920 TO) Sales 948,670 862,400 Cost of goods sold (d) 557,970 Gross profit (e) (e) Operating expenses 123,570 (0) Net income (0) 191,450 Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as posi Letter On Company Off Company a. 55,350 b. 490,420 c. 509,730 d. 504,580 $ e. 444,090 f. 320,520 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: 5. 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 direct materials used in production X Materials inventory, December 31 Cost of direct materials used in production $ Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs Materials inventory, December 31 x Cost of goods manufactured Feedback Choritare 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 Finished goods inventory, December 31 Cost of goods sold Gross profit Operating expenses Net income Feedback