PR 15-4A Manufacturing Income Statement, Statement of Cost of Goods Manufactured Obj 3 Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May: Rainier Company Yakima Company $ 100,000 $ 48,200 (a) 50,000 Materials inventory, May 1 Materials inventory, May 31 Materials purchased Cost of direct materials used in production 950,000 938,500 710,000 (a) Direct labor 2,860,000 (b) 1,800,000 446,000 2,494,200 (b) 5,998,500 2,660,600 400,000 176,400 Factory overhead Total manufacturing costs incurred In May Total manufacturing costs Work in process inventory, May 1 Work in process inventory, May 31 Cost of goods manufactured Finished goods inventory, May 1 Finished goods inventory, May 31 Sales 382,000 (c) 2,491,500 615,000 190,000 596,500 (d) 9,220,000 Cost of goods sold 4,550,000 2,470,000 (e) Gross profit (d) (e) 1,000,000 Operating expenses (0 Net Income co 1,500,000 Instructions 1. For both companies, determine the amounts of the missing items (a) through (). identifying them by letter Answer Check Figure: b. Yakima Company, $1,330,000 2. Prepare Yakima Company's statement of cost of goods manufactured for May 3. Prepare Yakima Company's income statement for May Key Codecooler Instructions Answers are entered in the cols with gray backgrounds Cells with non-gray backgrounds are protected and cannot be edited. An astensk) wil appear to the right of an incorrect entry 1. Ginocera Inc Income Statement For the Year Ended December 31, 20Y8 Sales Cost of goods sold Gross profit Seling and administrative expenses Seling expenses Total seling expenses Administrative expenses Total seling and administrative expenses Operating income Cost of goods sold supporting calculation: Manufacturing cost per unit nie) Direct materials: Hardened steel blanks Wood for handie) Packaging Total direct materials Direct labor Factory overhead Total manufacturing cost per knite Number of unts sold Cost of goods sold 2 Finished goods to balance December 2015 A Pr. 16-21-5A Ready MacB -SC @ $ 1 2 # 3 % 5 4 6 Total manufacturing cost per knite x Number of units sold Cost of goods sold 2. Finished goods inventory balance, December 31, 20Y8: Units produced Less: Units sold Units remaining in inventory * Manufacturing cost per unit Balance Work in process inventory balance, December 31, 2048: Additional units waiting for assembly * Direct materials and overhead per unit Balance Pr. 16(2)-5A Ready