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: Materials inventory, December 11 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 On off Company Company $88,210 $118,200 (a) 133,570 224,050 236,400 332,550 265,950 103,210 132,380 (b) 764,750 841,520 284,860 (c) 841,520 169,360 142,900 (a) (b) (c) 149,070 156,130 1,300,220 1,182,000 (d) 764,750 757,660 132,380 (d)
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: Materials inventory, December 11 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 On off Company Company $88,210 $118,200 (a) 133,570 224,050 236,400 332,550 265,950 103,210 132,380 (b) 764,750 841,520 284,860 (c) 841,520 169,360 142,900 (a) (b) (c) 149,070 156,130 1,300,220 1,182,000 (d) 764,750 757,660 132,380 (d)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text: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
Costs Type
Direct materials:
Total manufacturing costs incurred during December
Total manufacturing costs
3. Prepare On Company's income statement for December.
On Company
Income Statement
<
Amount Amount Amount
Cost of goods sold:
3. Prepare On Company's income statement for December.
On Company
Income Statement
For the Month Ended December 31
Line Item Description Amount Amount
10000
1000
$
0000

Transcribed Image Text: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:
Materials inventory, December 1
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 11
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
On
Off
Company Company
$88,210 $118,200
(a)
133,570
224,050
(a)
236,400
(b)
332,550
103,210
(b)
841,520
169,360
142,900
(c)
149,070
156,130
1,300,220
(d)
265,950
132,380
764,750
841,520
284,860
(c)
757,660
132,380
(d)
1,182,000
764,750
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