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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: 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)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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: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
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
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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