Several items are omitted from the income statement and cost of goods manufactured statement data for...

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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 $59,780 $75,920 Materials inventory, December 31 (a) 85,790 Materials purchased 151,840 (a) Cost of direct materials used in production 160,210 (b) Direct labor 225,370 170,820 Factory overhead 69,940 85,030 Total manufacturing costs incurred in December (b) 491,200 Total manufacturing costs 570,300 570,300 Work in process inventory, December 1 114,780 182,970 Work in process inventory, December 31 96,840 (c) Cost of goods manufactured (c) 486,650 Finished goods inventory, December 1 101,030 85,030 Finished goods inventory, December 31 105,810 (d) Sales 881,160 759,200 Cost of goods sold (d) 491,200 Gross profit (e) (e) Operating expenses 114,780 (f) Net income (f) 168,540 Most

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