WRD 27e_PR 18-4B Search AutoSave ( Off) View Home Insert Page Layout Review File Draw Formulas Data Help 89 Wrap Text X. Cut Arial 10 ~ A" A E $ ~ % 9 08 0 Conditi Formatt Paste A Copy Format Painter BIU- E Merge & Center Font Alignment Number Clipboard G30 X V fx C D E F G H J K L M N A B For the Month Ended December 31 38 39 $ 119,000 40 Work in process inventory, December 1 41 Direct materials: 42 Materials inventory, December 1 $ 65,800 43 Purchases 282,800 44 Cost of materials available for use 45 Materials inventory, December 31 46 Cost of direct materials used in production 47 Direct labor 48 Factory overhead 49 Total manufacturing costs incurred during December 50 Total manufacturing costs 51 Less: Work in process inventory. December 31 52 Cost of goods manufactured 53 54 55 3 ON COMPANY 56 Income Statement 57 For the Month Ended December 31 58 159 Sales 60 61 Cost of goods sold: Finished goods inventory, December 1 $ 224 000 62 63 Cost of goods manufactured 64 Cost of finished goods available for sale 65 Finished goods inventory, December 31 197.400 Cost of goods sold 66 Gross profit 67 68 Operating expenses 69 Net income 117 600 " Pr. 18-4B Ready