Manufacturing Income Statement, Statement of Cost of GOods ManufacturedSeveral items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December:OnOffCompanyCompanyMaterials inventory, December 1$82,740$110,870Materials inventory, December 31(a)125,280Materials purchased210,160(a)Cost of direct materials used in production221,740(b)Direct labor311,930249,460Factory overhead96,810124,170Total manufacturing costs incurred in December(b)717,330Total manufacturing costs789,340789,340Work in process inventory, December 1158,860267,200Work in process inventory, December 31134,040(c)Cost of goods manufactured(c)710,680Finished goods inventory, December 1139,830124,170Finished goods inventory, December 31146,450(d)Sales1,219,5901,108,700Cost of goods sold(d)717,330Gross profit(e)(e)Operating expenses158,860(f)Net income(f)246,130 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as poLetterOn CompanyOff Companyа.b.$C.2$$d.$4е.$f.2. Prepare On Company's statement of cost of goods manufactured for December.On CompanyStatement of Cost of Goods ManufacturedFor the Month Ended December 31Direct materials:

Direct Material Costs Used for Manufacturing: When calculating the Cost of Goods Manufactured, the…

1. Determine the amounts of the missing items, ldentifying them by letter. Enter all amounts as p Letter On Company Off Company а. $ b. с. $4 d. е. f. 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Direct materials: $

1. Determine the amounts of the missing items, ldentifying them by letter. Enter all amounts as p Letter On Company Off Company а. $ b. с. $4 d. е. f. 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Direct materials: $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please do not give solution in image format
All information included
Accounting records for Antoinette Designs (AD) for November show the following (each entry is the total of the actual entries for the account for the month): Account Titles Work-in-Process Inventory (Direct Labor) Wages Payable Direct Materials Inventory Accounts Payable Finished Goods Inventory Work-in-Process Inventory Cost of Goods Solda Finished Goods Inventory Debit 7,200 122,130 136,800 131,400 Credit 7,200 Required: a. What was the finished goods inventory balance on November 30? b. How much manufacturing overhead was applied for November? c. What was the manufacturing overhead rate for November? d. How much manufacturing overhead was incurred for November? e. What was the Work-in-Process Inventory on November 1? f. What was the Work-in-Process Inventory on November 30? 122,130 136,800 131,400 aThis entry does not include any over- or underapplied overhead. Over- or underapplied overhead is written off to Cost of Goods Sold once for the month. For November, the amount written…
Pls asap
The following information is available for Shanika Company for 20Y6: Please see the attachment Instructions1. Prepare the statement of cost of goods manufactured.2. Prepare the income statement.
Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 Total manufacturing costs incurred during August Total manufacturing costs Work in process inventory, August 31 Cost of goods manufactured a. $ b. $ C. $ d. $ e. $ tA f. $ X X X X X X $1,900 13,100 (a) 2,900 (b) $15,600 (c) $182,500 38,300 (d) (e) 91,300 $99,100 (f) $83,200
Give answer
Continued from previous question
Please do not give solution in image format thanku
On ff Company Company Materials inventory, December 1 $81,110 $109,500 Materials inventory, December 31 (a) 123,730 Materials purchased 206,020 (a) Cost of direct materials used in production 217,370 (b) Direct labor 305,780 246,380 Factory overhead 94,900 122,640 Total manufacturing costs incurred in December (b) 708,470 Total manufacturing costs 773,780 773,780 Work in process inventory, December 1 155,730 263,900 Work in process inventory, December 31 131,400 (c) Cost of goods manufactured (c) 701,900 Finished goods inventory, December 1 137,080 122,640 Finished goods inventory, December 31 143,560 (d) Sales 1,195,560 1,095,000 Cost of goods sold (d) 708,470 Gross profit (e) (e) Operating expenses 155,730 (f) Net income (f) 243,090
Please do not give solution in image format thanku