PortalGuard - Portal Access X <> M04 Exam 1 Ch 1-4 (Remotely Pr x 4 My Home X CengageNOWv2 | Online teachin x + X < > C D A v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false TP # IM 1. EX. 15.02 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 2. EX. 15.03 ? December: 3. EX. 15.04 On Off Company Company 4. EX. 15.12 ALGO Materials inventory, December 1 $84,910 $115,480 Materials inventory, December 31 (a) 130,490 5. EX. 15.14.Algo Materials purchased 215,670 (a) 6. EX. 15.16.ALGO Cost of direct materials used in production 227,560 (b) Direct labor 320,110 259,830 7. PR. 15.04B.ALGO Factory overhead 99,340 129,340 Total manufacturing costs incurred in December (b ) 747,160 Total manufacturing costs 810,040 810,040 Work in process inventory, December 1 163,030 278,310 Work in process inventory, December 31 137,550 (c) Cost of goods manufactured (c) 740,230 Finished goods inventory, December 1 143,500 129,340 Finished goods inventory, December 31 150,290 (d) Sales 1,251,570 1,154,800 Cost of goods sold (d) 747,160 Progress: 7/7 items Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 84.37% Save and Exit Submit Assignment for Grading Type here to search 12:15 PM + O ? 100 F Sunny 91x 9/6/2022PortalGuard - Portal Access X <>M04 Exam 1 Ch 1-4 (Remotely Pr x 4 My Home X CengageNOWv2 | Online teachin x + X < > C D A v2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker= &takeAssignmentSessionLocator=&inprogress=false To AIM Sales 1,251,570 1,154,800 1. EX. 15.02 Cost of goods sold (d) 747,160 2. EX. 15.03 Gross profit (e) (e) ? Operating expenses 163,030 (f ) 3. EX. 15.04 Net income (f ) 256,370 4. EX. 15.12 ALGO Required: 5. EX. 15.14.Algo 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company 6. EX. 15.16.ALGO a. 7. PR. 15.04B.ALGO b. C. d. e. Feedback Check My Work 1. a. The cost of direct materials used in production includes the beginning materials inventory plus purchases, less the ending materials Progress: 7/7 items Check My Work 2 more Check My Work uses remaining. < Previous Assignment Score: 84.37% Save and Exit Submit Assignment for Grading 12:16 PM + Type here to search O 1 9 0 ?) 100 F Sunny 9/6/2022PortalGuard - Portal Access X M04 Exam 1 Ch 1-4 (Remotely Pr x 4 My Home X CengageNOWv2 | Online teachin x + X + -> C D A v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false To 2. Prepare On Company's statement of cost of goods manufactured for December. 1. EX. 15.02 On Company Statement of Cost of Goods Manufactured 2. EX. 15.03 For the Month Ended December 31 ? Work in process inventory, December 1 3. EX. 15.04 Direct materials: 4. EX. 15.12 ALGO Materials inventory, December 1 Purchases 5. EX. 15.14.Algo Cost of materials available for use 6. EX. 15.16.ALGO Materials inventory, December 31 Cost of direct materials used in production V 7. PR. 15.04B.ALGO Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs 10000 Materials inventory, December 31 - X Cost of goods manufactured Feedback Check My Work TL - - Jim- -L I-L - Progress: 7/7 items Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 84.37% Save and Exit Submit Assignment for Grading 12:16 PM + Type here to search O ? 100 F Sunny x 9/6/2022PortalGuard - Portal Access X M04 Exam 1 Ch 1-4 (Remotely Pr x 4 My Home X CengageNOWv2 | Online teachin x + X < > C D A v2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false To AIM 1. EX. 15.02 3. Prepare On Company's income statement for December. 2. EX. 15.03 On Company ? Income Statement 3. EX. 15.04 For the Month Ended December 31 Sales V 4. EX. 15.12 ALGO Cost of goods sold: Finished goods inventory, December 1 5. EX. 15.14.Algo Cost of goods manufactured 6. EX. 15.16.ALGO Cost of finished goods available for sale 7. PR. 15.04B.ALGO Finished goods inventory, December 31 Cost of goods sold V 10 Gross profit V Operating expenses Net income Feedback Check My Work 3. Sales minus cost of goods sold equals gross profit. Cost of goods sold is equal to beginning Finished Goods plus Cost of Goods Manufactured less ending Finished Goods. Progress: 7/7 items Check My Work 2 more Check My Work uses remaining.