Manufacturing Income Statement, Statement of Cost of Goods Manufactured 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$86,215$110,300Materials inventory, December 31(a)124,715Materials purchased218,900(a)Cost of direct materials used in production253,115(b)Direct labor325,020248,275Factory overhead100,860123,610Total manufacturing costs incurred in December(b)713,890Total manufacturing costs844,515979,830Work in process inventory, December 1165,520265,940Work in process inventory, December 31139,660(c)Cost of goods manufactured(c)707,290Finished goods inventory, December 1145,670124,190Finished goods inventory, December 31152,570(d)Sales1,270,7001,103,500Cost of goods sold(d)714,480Gross profit(e)(e)Operating expenses165,520(f)Net income(f)244,480Required:1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.On CompanyOff CompanyLettera.b.c.d.е.f.%24%24 2. Prepare On Company's statement of cost of goods manufactured for December.Note: If an amount should be subtracted, begin entry with a minus (-) sign.On CompanyStatement of Cost of Goods ManufacturedFor the Month Ended December 31Work in process inventory, December 1 vDirect materials:Materials inventory, December 1 vPurchases vCost of materials available for use vMaterials inventory, December 31 vCost of direct materials used in productionDirect laborFactory overheadTotal manufacturing costs incurred during DecemberTotal manufacturing costsWork in process inventory, December 31 vCost of goods manufactured vFeedbackT Check My Work2. The cost of goods manufactured is the beginning work in process plus the cost of direct materials used in production plus direct labor and factory overhead, less the ending work in process.3. Prepare On Company's income statement for December.Note: If an amount should be subtracted, begin entry with a minus (-) sign.On CompanyIncome StatementFor the Month Ended December 31Sales vCost of goods sold:Finished goods inventory, December 1 vCost of goods manufactured vCost of finished goods available for sale vFinished goods inventory, December 31 yCost of goods sold vGross profit vOperating expenses vNet income

Manufacturing income statement shows how much costs has been incurred on manufacturing of goods…

Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and ocost of goods manufactured statement data for two different companies for the month of December: On Off Company Company Materials inventory, December 1 $86,215 $110,300 Materials inventory, December 31 (a) 124,715 Materials purchased 218,900 (a) Cost of direct materials used in production 253,115 (b) Direct labor 325,020 248,275 Factory overhead 100,860 123,610 Total manufacturing costs incurred in December (b) 713,890 Total manufacturing costs 844,515 979,830 Work in process inventory, December 1 165,520 265,940 Work in process inventory, December 31 139,660 (c) Cost of goods manufactured (c) 707,290 Finished goods inventory, December 1 145,670 124,190 Finished goods inventory, December 31 152,570 (d) Sales 1,270,700 1,103,500 Cost of goods sold (d) 714,480 Gross profit (e) (e) Operating expenses 165,520 (f) Net income (f) 244,480 Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company a. b. C. d.