Preparation of the statement of income and expenses (Income statement) and the cost report of manufactured goods (statement of cost of manufactured goods) The following omits varlous figures from the income statement and the report of cost of manufactured goods (statement of cost of goods manufactured) for the month of December. Instructions 1. Determine the amounts of the missing figures, identifying them by letter. 2. Prepare the cost of manufactured goods report (statement of cost of goods manufactured) from Wiley Company for the month of December. 3. Prepare the Wiley Company income statement for the month from December. 4. Prepare the cost of manufactured goods report (statement of cost of goods manufactured) from InnoGear Company for the month of December. 5. Prepare the InnoGear Company income statement for the month of December. Inno Gear Company Statement of Cost of Goods Manufactured Woik in process inventory, December 1 For the Month Ended December 31 Direct materials: Direct haboe Factory overhead Total manufacturing costs incurred during December Total manudacturing costs Workin process imbentery, Decetiber 33 Cost of goods manufactured Inno Gear Company Income Statement For the Month Ended December 31 Sales Cost of goods sold: Firistied foods inventory, December 1 Cost of goodis mantafactured Cost of finished poods available for sale finished goods imwertory, Decomber 31 Cost of noods soid Gress profit Operatinit expenses Net income Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. An asterisk (*) will appear to the right of an incorrect entry. 2. WILEY COMPANY Statement of Cost of Goods Manufactured For the Month Ended December 31, 2012 Work in process inventory, December 1,2012 Direct materials: Cost of direct materials used in production Direct labor Factory ovechead Total manufacturing costs incurred during December Total manufacturing costs Less: Cost of goods manufactured 3. WILEY COMPANY Income Statement For the Month Ended December 31, 2012 Sales cost of goods sold: Cost of finished goods avallable for sale Cost of goods sold Gross profit Operating expenses Net income