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, December 1 $84,980 $110,470 Materials inventory, December 31 (a) 124,830 Materials purchased 215,850 (a) Cost of direct materials used in production 227,750 (b) Direct labor 320,370 248,560 Factory overhead 99,430 123,730 Total manufacturing costs incurred in December 714,740 Total manufacturing costs 810,710 810,710 Work in process inventory, December 1 163,160 266,230 Work in process inventory, December 31 137,670 (c) Cost of goods manufactured (c) 708,110 Finished goods inventory, December 1 143,620 123,730 Finished goods inventory, December 31 150,410 (d) Sales 1,252,610 1,104,700 Cost of goods sold (d) 714,740 Gross profit (e) Operating expenses 163,160 Net income (1) 245,240 Required: 1. Determine the amounts of the missing items, Identifying them by letter. Enter all amounts as positive numbers, Tnine the amounts of the missing items, Identlying em by dll dirourits 5 positive nu Letter On Company off Company 235,300 X a. 73,080 b. 647,550 342,450 C. d. e. f. Feedback Check My Work 1. a. The cost of direct materials used in production includes the beginning materials inventory plus purchases, less the ending matem hTntal manu 3. Prepare on Company's income statement for December On Company Income Statement For the Month Ended December 31 Sales Cost of goods sold: Finished goods inventory, December 1 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, December 31 Cost of goods sold Gross profit Operating expenses Net Income ost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Materials inventory, December 31 Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs Work in process Inventory, December 31 Cost of goods manufactured