70.2K

Verified Solution

Link Copied!

- Leaming Objective 3 On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 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 Required: (a) 88,480 156,590 (a) 165,220 (b) 232,420176,180 72,13087,700 (b) 506,600 588,140588,140 118,370188,700 99,870 (c) (c) 501,900 104,19087,700 109,120 (d) 908,720783,000 (d) 506,600 (e) (e) 118,370 (f) (f) 173,830 3. Prepare On Company's income statement for December. 1. Determine the amounts of the missing items, identifying them by letter, Enter all amounts as positive numbers. 2. Prepare On Company's statement of cost of goods manutactured for December. - Leaming Objective 3 On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 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 Required: (a) 88,480 156,590 (a) 165,220 (b) 232,420176,180 72,13087,700 (b) 506,600 588,140588,140 118,370188,700 99,870 (c) (c) 501,900 104,19087,700 109,120 (d) 908,720783,000 (d) 506,600 (e) (e) 118,370 (f) (f) 173,830 3. Prepare On Company's income statement for December. 1. Determine the amounts of the missing items, identifying them by letter, Enter all amounts as positive numbers. 2. Prepare On Company's statement of cost of goods manutactured for December

Answer & Explanation Solved by verified expert

See Answer