Manufacturing Income Statement, Statement of Cost of Goods Manufactured 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 Company Off Company Materials inventory, December 1 $85,330 $114,340 Materials inventory, December 31 (a) 129,200 Materials purchased 216,740 (a) Cost of direct materials used in production 228,680 (b) Direct labor 321,690 257,270 Factory overhead 99,840 128,060 Total manufacturing costs incurred in December (b) 739,780 Total manufacturing costs 814,040 1,015,340 Work in process inventory, December 1 163,830 275,560 Work in process inventory, December 31 138,230 (c) Cost of goods manufactured (c) 732,920 Finished goods inventory, December 1 144,210 128,060 Finished goods inventory, December 31 151,030 (d) Sales 1,257,760 1,143,400 Cost of goods sold (d) 739,780 Gross profit (e) (e) Operating expenses 163,830 (f) Net income (f) 253,830 Required: Question Content Area 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company 2. Prepare On Company's statement of cost of goods manufactured for December. On CompanyStatement of Cost of Goods ManufacturedFor the Month Ended December 31 $- Select - Direct materials: $- Select - - Select - $- Select - - Select - $- Select - - Select - - Select - Total manufacturing costs incurred fill in the blank 5ccb10fe4fb4075_17 Total manufacturing costs $fill in the blank 5ccb10fe4fb4075_18 - Select - $- Select - Feedback Area Feedback Question Content Area 3. Prepare On Company's income statement for December. On CompanyIncome StatementFor the Month Ended December 31 $- Select - Cost of goods sold: $- Select - - Select - $- Select - - Select - - Select - $- Select - - Select - $- Select -
Manufacturing Income Statement, Statement of Cost of Goods Manufactured 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 Company Off Company Materials inventory, December 1 $85,330 $114,340 Materials inventory, December 31 (a) 129,200 Materials purchased 216,740 (a) Cost of direct materials used in production 228,680 (b) Direct labor 321,690 257,270 Factory overhead 99,840 128,060 Total manufacturing costs incurred in December (b) 739,780 Total manufacturing costs 814,040 1,015,340 Work in process inventory, December 1 163,830 275,560 Work in process inventory, December 31 138,230 (c) Cost of goods manufactured (c) 732,920 Finished goods inventory, December 1 144,210 128,060 Finished goods inventory, December 31 151,030 (d) Sales 1,257,760 1,143,400 Cost of goods sold (d) 739,780 Gross profit (e) (e) Operating expenses 163,830 (f) Net income (f) 253,830 Required: Question Content Area 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company 2. Prepare On Company's statement of cost of goods manufactured for December. On CompanyStatement of Cost of Goods ManufacturedFor the Month Ended December 31 $- Select - Direct materials: $- Select - - Select - $- Select - - Select - $- Select - - Select - - Select - Total manufacturing costs incurred fill in the blank 5ccb10fe4fb4075_17 Total manufacturing costs $fill in the blank 5ccb10fe4fb4075_18 - Select - $- Select - Feedback Area Feedback Question Content Area 3. Prepare On Company's income statement for December. On CompanyIncome StatementFor the Month Ended December 31 $- Select - Cost of goods sold: $- Select - - Select - $- Select - - Select - - Select - $- Select - - Select - $- Select -
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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Question
Manufacturing Income Statement, Statement of Cost of Goods Manufactured
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 Company |
Off Company |
|||
Materials inventory, December 1 | $85,330 | $114,340 | ||
Materials inventory, December 31 | (a) | 129,200 | ||
Materials purchased | 216,740 | (a) | ||
Cost of direct materials used in production | 228,680 | (b) | ||
Direct labor | 321,690 | 257,270 | ||
Factory overhead | 99,840 | 128,060 | ||
Total |
(b) | 739,780 | ||
Total manufacturing costs | 814,040 | 1,015,340 | ||
Work in process inventory, December 1 | 163,830 | 275,560 | ||
Work in process inventory, December 31 | 138,230 | (c) | ||
Cost of goods manufactured | (c) | 732,920 | ||
Finished goods inventory, December 1 | 144,210 | 128,060 | ||
Finished goods inventory, December 31 | 151,030 | (d) | ||
Sales | 1,257,760 | 1,143,400 | ||
Cost of goods sold | (d) | 739,780 | ||
Gross profit | (e) | (e) | ||
Operating expenses | 163,830 | (f) | ||
Net income | (f) | 253,830 |
Required:
Question Content Area
1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.
Letter | On Company | Off Company |
2. Prepare On Company's statement of cost of goods manufactured for December.
|
$- Select - | ||
Direct materials: | |||
|
$- Select - | ||
|
- Select - | ||
|
$- Select - | ||
|
- Select - | ||
|
$- Select - | ||
|
- Select - | ||
|
- Select - | ||
Total manufacturing costs incurred | fill in the blank 5ccb10fe4fb4075_17 | ||
Total manufacturing costs | $fill in the blank 5ccb10fe4fb4075_18 | ||
|
- Select - | ||
|
$- Select - |
Feedback Area
Feedback
Question Content Area
3. Prepare On Company's income statement for December.
|
$- Select - | |
Cost of goods sold: | ||
|
$- Select - | |
|
- Select - | |
|
$- Select - | |
|
- Select - | |
|
- Select - | |
|
$- Select - | |
|
- Select - | |
|
$- Select - |
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