Solve Problem 18-4B, parts 1 and 2 (page 861). Use the template provided (see attachment).

Submit only your template with your complete exercise to the dropbox created for this assignment.

Several items are omitted from each of the following income statement and cost of goods manufactured statement data for the month of December 2012

Margo Company S 47,000 Rita Company S 139,500 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 65,100 202,000 (a) 227,000 (b) 277,000 106,000 412,300 182,900 1,085,000 1,233,800 148,800 695,000 85,000 123,000 (c 1,094,300 192,200 160,000 141,000 (d) 805,000 1,388,800 1,103,600 84,000 (f 117,800