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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 Decer On Off Company Company Materials inventory, December 1 $56,530 $72,920 Materials inventory, December 31 (a) 82,400 Materials purchased 143,590 (a), Cost of direct materials used in production 151,500 (b) Direct labor 213,120 164,070 Factory overhead 66,140 81,670 Total manufacturing costs incurred in December (b) 471,790 Total manufacturing costs 539,300 539,300 Work in process inventory, December 1 108,540 175,740 Work in process inventory, December 31 91,580 (c) Cost of goods manufactured (c) 467,420 Finished goods inventory, December 1 95,540 81,670 Finished goods inventory, December 31 100,060 (d) Sales 833,250 729,200 Cost of goods sold (d) 471,790 Gross profit (e) (e) Operating expenses 108,540 (f) Net income (f) 161,880 Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all ampunts as positive numbers. Letter On Company Off Company

Several items are omitted from the Income statement and cost of goods manufactured statement data for two different companies for the month of Decer On Off Company Company Materials inventory, December 1 $56,530 $72,920 Materials inventory, December 31 (a) 82,400 Materials purchased 143,590 (a), Cost of direct materials used in production 151,500 (b) Direct labor 213,120 164,070 Factory overhead 66,140 81,670 Total manufacturing costs incurred in December (b) 471,790 Total manufacturing costs 539,300 539,300 Work in process inventory, December 1 108,540 175,740 Work in process inventory, December 31 91,580 (c) Cost of goods manufactured (c) 467,420 Finished goods inventory, December 1 95,540 81,670 Finished goods inventory, December 31 100,060 (d) Sales 833,250 729,200 Cost of goods sold (d) 471,790 Gross profit (e) (e) Operating expenses 108,540 (f) Net income (f) 161,880 Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all ampunts as positive numbers. Letter On Company Off Company

Managerial Accounting
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 4PB: Several items are omitted from the income statement and cost of goods manufactured statement data...
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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 Decer On Off Company Company Materials inventory, December 1 $56,530 $72,920 Materials inventory, December 31 (a) 82,400 Materials purchased 143,590 (a), Cost of direct materials used in production 151,500 (b) Direct labor 213,120 164,070 Factory overhead 66,140 81,670 Total manufacturing costs incurred in December (b) 471,790 Total manufacturing costs 539,300 539,300 Work in process inventory, December 1 108,540 175,740 Work in process inventory, December 31 91,580 (c) Cost of goods manufactured (c) 467,420 Finished goods inventory, December 1 95,540 81,670 Finished goods inventory, December 31 100,060 (d) Sales 833,250 729,200 Cost of goods sold (d) 471,790 Gross profit (e) (e) Operating expenses 108,540 (f) Net income (f) 161,880 Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all ampunts as positive numbers. Letter On Company Off Company
Transcribed Image Text:Several items are omitted from the Income statement and cost of goods manufactured statement data for two different companies for the month of Decer On Off Company Company Materials inventory, December 1 $56,530 $72,920 Materials inventory, December 31 (a) 82,400 Materials purchased 143,590 (a), Cost of direct materials used in production 151,500 (b) Direct labor 213,120 164,070 Factory overhead 66,140 81,670 Total manufacturing costs incurred in December (b) 471,790 Total manufacturing costs 539,300 539,300 Work in process inventory, December 1 108,540 175,740 Work in process inventory, December 31 91,580 (c) Cost of goods manufactured (c) 467,420 Finished goods inventory, December 1 95,540 81,670 Finished goods inventory, December 31 100,060 (d) Sales 833,250 729,200 Cost of goods sold (d) 471,790 Gross profit (e) (e) Operating expenses 108,540 (f) Net income (f) 161,880 Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all ampunts as positive numbers. Letter On Company Off Company
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