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Several items are omitted from the income statement and cost of goods manufacturedstatement data for two different companies for the month of May:

1Rainier CompanyYakima Company2Materials inventory, May 1$280,280.00$179,000.003Materials inventory, May 31(a)177,500.004Materials purchased712,000.00340,000.005Cost of direct materials used in production752,000.00(a)6Direct labor1,059,600.00(b)7Factory overhead325,200.00179,600.008Total manufacturing costs incurred in May(b)1,035,000.009Total manufacturing costs2,676,800.001,479,500.0010Work in process inventory, May 1540,000.00444,500.0011Work in process inventory, May 31451,400.00(c)12Cost of goods manufactured(c)1,027,500.0013Finished goods inventory, May 1478,400.00201,000.0014Finished goods inventory, May 31495,200.00(d)15Sales4,143,000.001,676,500.0016Cost of goods sold(d)1,053,500.0017Gross profit(e)(e)18Operating expenses540,000.00(f)19Net income(f)383,000.00Required:a. Determine the amounts of the missing items, identifying them by letter.b. Prepare Yakima Companys statement of cost of goods manufactured for May.

c. Prepare Yakima Companys income statement for May.

Statement of Cost of Goods Manufactured

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b. Prepare Yakima Companys statement of cost of goods manufactured for May.

Statement of Cost of Goods Manufactured Instructions

Score: 11/122

Yakima CompanyStatement of Cost of Goods Manufactured12Direct materials:345678910111213

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2.25 / 25

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Income Statement

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c. Prepare Yakima Companys income statement for May.

Income Statement Instructions

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Score: 0/92

Yakima CompanyIncome Statement12Cost of goods sold:345678910

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