eBook 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 $65,800 $195,300 Materials inventory, December 31 (a) 91,140 Materials purchased 282,800 (a) Cost of direct materials used in production 317,800 (b) Direct labor 387,800 577,220 Factory overhead 148,400 256,060 Total manufacturing costs incurred in December (b) 1,519,000 Total manufacturing costs 973,000 1,727,320 Work in process inventory, December 1 119,000 208,320 Work in process inventory, December 31 172,200 Cost of goods manufactured (c) 1,532,020 Finished goods inventory, December 1 224,000 269,080 Finished goods inventory, December 31 197,400 (d) Sales 1,127,000 1,944,320 Cost of goods sold (d) 1,545,040 Check My Work 2 more Check My Work uses remaining Previous Next
eBook 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 $65,800 $195,300 Materials inventory, December 31 (a) 91,140 Materials purchased 282,800 (a) Cost of direct materials used in production 317,800 (b) Direct labor 387,800 577,220 Factory overhead 148,400 256,060 Total manufacturing costs incurred in December (b) 1,519,000 Total manufacturing costs 973,000 1,727,320 Work in process inventory, December 1 119,000 208,320 Work in process inventory, December 31 172,200 Cost of goods manufactured (c) 1,532,020 Finished goods inventory, December 1 224,000 269,080 Finished goods inventory, December 31 197,400 (d) Sales 1,127,000 1,944,320 Cost of goods sold (d) 1,545,040 Check My Work 2 more Check My Work uses remaining Previous Next
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:eBook
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
$65,800
$195,300
Materials inventory, December 31
(a)
91,140
Materials purchased
282,800
(a)
Cost of direct materials used in production
317,800
(b)
Direct labor
387,800 577,220
Factory overhead
148,400
256,060
Total manufacturing costs incurred in December
(b) 1,519,000
Total manufacturing costs
973,000
1,727,320
Work in process inventory, December 1
119,000
208,320
Work in process inventory, December 31
172,200
Cost of goods manufactured
(c)
1,532,020
Finished goods inventory, December 1
224,000
269,080
Finished goods inventory, December 31
197,400
(d)
Sales
1,127,000
1,944,320
Cost of goods sold
(d) 1,545,040
Check My Work 2 more Check My Work uses remaining
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