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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

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 Off Company
Materials inventory, December 1 $66,130 $83,990
Materials inventory, December 31 (a) 94,910
Materials purchased 167,970 (a)
Cost of direct materials used in production 177,230 (b)
Direct labor 249,310 188,980
Factory overhead 77,370 94,070
Total manufacturing costs incurred in December (b) 543,420
Total manufacturing costs 630,880 630,880
Work in process inventory, December 1 126,970 202,420
Work in process inventory, December 31 107,130 (c)
Cost of goods manufactured (c) 538,380
Finished goods inventory, December 1 111,760 94,070
Finished goods inventory, December 31 117,050 (d)
Sales 974,760 839,900
Cost of goods sold (d) 543,420
Gross profit (e) (e)
Operating expenses 126,970 (f)
Net income (f) 186,460

Required:

1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.

Letter On Company Off Company
a. $fill in the blank f13d46ff5f9b025_1 $fill in the blank f13d46ff5f9b025_2
b. $fill in the blank f13d46ff5f9b025_3 $fill in the blank f13d46ff5f9b025_4
c. $fill in the blank f13d46ff5f9b025_5 $fill in the blank f13d46ff5f9b025_6
d. $fill in the blank f13d46ff5f9b025_7 $fill in the blank f13d46ff5f9b025_8
e. $fill in the blank f13d46ff5f9b025_9 $fill in the blank f13d46ff5f9b025_10
f. $fill in the blank f13d46ff5f9b025_11 $fill in the blank f13d46ff5f9b025_12

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
$fill in the blank b77a5705affcfe8_2
Direct materials:
$fill in the blank b77a5705affcfe8_4
fill in the blank b77a5705affcfe8_6
$fill in the blank b77a5705affcfe8_8
fill in the blank b77a5705affcfe8_10
$fill in the blank b77a5705affcfe8_12
fill in the blank b77a5705affcfe8_14
fill in the blank b77a5705affcfe8_16
Total manufacturing costs incurred during December fill in the blank b77a5705affcfe8_17
Total manufacturing costs $fill in the blank b77a5705affcfe8_18
fill in the blank b77a5705affcfe8_20
$fill in the blank b77a5705affcfe8_22

3. Prepare On Company's income statement for December.

On Company
Income Statement
For the Month Ended December 31
$fill in the blank 94867901ff91045_2
Cost of goods sold:
$fill in the blank 94867901ff91045_4
fill in the blank 94867901ff91045_6
$fill in the blank 94867901ff91045_8
fill in the blank 94867901ff91045_10
fill in the blank 94867901ff91045_12
$fill in the blank 94867901ff91045_14
fill in the blank 94867901ff91045_16
$fill in the blank 94867901ff91045_18

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