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Please Help!!! Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and cost of goods manufactured statement
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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 two different companies for the month of December On Off Company Company Materials inventory, $76,950 $103,110 December 1 Materials inventory (a) 116,510 December 31 Materials purchased 195,450 Cost of direct materials used 206,230 (6) in production Direct labor 290,100 232,000 Factory overhead 90,030 115,480 Total manufacturing costs (b) 667,120 incurred in December Total manufacturing costs 734,100 734,100 Work in process inventory, 147,740 248,500 December 1 Work in process inventory, 124,660 (c) December 31 Cost of goods manufactured (c) 660,940 Finished goods inventory 130,050 115,480 December 1 Finished goods inventory 136,200 (d) December 31 Sales 1,134,240 1,031,100 Cost of goods sold (6) 667,120 Gross profit () (0) Operating expenses 147,740 Net income 220,900 Required: 1. Determine the amounts of the missing items, Identifying them by letter. Enter all amounts as positive numbers, Letter On Company Off Company $ b. $ C. d. e. f. 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 Direct materials: Total manufacturing costs incurred during December Total manufacturing costs 0000 3. Prepare On Company's income statement for December On Company Income Statement For the Month Ended December 31 $ Cost of goods sold: $ tA $ Step by Step Solution
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