Manufacturing Income Statement, Statement of Cost of GOods ManufacturedSeveral items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December:OnOffCompanyCompanyMaterials inventory, December 1$82,740$110,870Materials inventory, December 31(a)125,280Materials purchased210,160(a)Cost of direct materials used in production221,740(b)Direct labor311,930249,460Factory overhead96,810124,170Total manufacturing costs incurred in December(b)717,330Total manufacturing costs789,340789,340Work in process inventory, December 1158,860267,200Work in process inventory, December 31134,040(c)Cost of goods manufactured(c)710,680Finished goods inventory, December 1139,830124,170Finished goods inventory, December 31146,450(d)Sales1,219,5901,108,700Cost of goods sold(d)717,330Gross profit(e)(e)Operating expenses158,860(f)Net income(f)246,130 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as poLetterOn CompanyOff Companyа.b.$C.2$$d.$4е.$f.2. Prepare On Company's statement of cost of goods manufactured for December.On CompanyStatement of Cost of Goods ManufacturedFor the Month Ended December 31Direct materials:

Direct Material Costs Used for Manufacturing: When calculating the Cost of Goods Manufactured, the…

1. Determine the amounts of the missing items, ldentifying them by letter. Enter all amounts as p Letter On Company Off Company а. $ b. с. $4 d. е. f. 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Direct materials: $

1. Determine the amounts of the missing items, ldentifying them by letter. Enter all amounts as p Letter On Company Off Company а. $ b. с. $4 d. е. f. 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Direct materials: $

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 4PA: Manufacturing income statement, statement of cost of goods manufactured Several items are omitted...

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