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Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the...

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Accounting

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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 Off Company Company Materials inventory, December 1 $76,490 $100,970 Materials inventory, December 31 (a) 114,100 Materials purchased 194,280 (a) Cost of direct materials used in production 204,990 (b) Direct labor 288,370 227,180 Factory overhead 89,490 113,090 Total manufacturing costs incurred in December (b) 653,280 Total manufacturing costs 729,710 896,620 Work in process inventory, December 1 146,860 243,340 Work in process inventory, December 31 123.910 (c) Cost of goods manufactured (c) 647,220 Finished goods inventory, December 1 129,270 113,090 Finished goods inventory, December 31 135,390 (d) Sales 1,127,460 1,009,700 Cost of goods sold (d) 653,280 Gross profit (e) (e) Operating expenses 146,860 (1) Net income 224,150 Required: 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 3. Prepare On Company's income statement for December

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