PR 18-4B Manufacturing income statement, statement of cost of goods manufactured Obj. 2 - Describe and illustrate the following costs: direct and indirect costs; direct materials, direct labor, and factory overhead costs; and product and period costs., 4 - Describe and Excel illustrate the following statements for a manufacturing business: balance sheet, statement of cost of goods manufactured, and income statement. Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December. Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income On Company $ 65,800 (a) 282,800 317,800 387,800 148,400 (b) 973,000 119,000 172,200 (c) $ 224,000 197,400 1,127,000 (d) (e) 117,600 (f) Off Company $ 195,300 91,140 (a) (b) 577,220 256,060 1,519,000 1,727,320 208,320 (c) 1,532,020 $ 269,080 (d) 1,944,320 1,545,040 (e) 164,920 Instructions 1. Determine the amounts of the missing items, identifying them by letter. 2. Prepare On Company's statement of cost of goods manufactured for December. 3. Prepare On Company's income statement for December