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 $68,400 $89,600 Materials inventory, December 31 (a) 101,250 Direct labor Materials purchased Cost of direct materials used in production Factory overhead Total manufacturing costs incurred in December 173,740 (a) 183,310 (b) 257,870 201,600 80,030 100,350 (b) 579,710 Total manufacturing costs 652,540 652,540 Work in process inventory, December 1 131,330 215,940 Work in process inventory, December 311 110,810 (c) Cost of goods manufactured (c) 574,340 Finished goods inventory, December 1 115,600 100,350 Finished goods inventory, December 31 121,070 (d) Sales 1,008,220 896,000 Cost of goods sold (d) 579,710 Gross profit (e) (e) Operating expenses 131,330 (0) (0) 198,910 Net income Required: