3 questions.-- Please see both photos. Second time I have submitted this question. The first one that was answered , they were wrong and didn't answer it all.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:1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.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.3. Prepare On Company's income statement for December.Note: If an amount should be subtracted, begin entry with a minus (-) sign. 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, 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

A document that details the cost of items made during the period is known as a statement of cost of…

Answered: Manufacturing Income Statement,…

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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3 questions.-- Please see both photos. Second time I have submitted this question. The first one that was answered , they were wrong and didn't answer it all.

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:

1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.

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.

3. Prepare On Company's income statement for December.

Note: If an amount should be subtracted, begin entry with a minus (-) sign.

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
$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.
On Company
Off Company
Letter
a.
b.
c.
d.
е.
f.
%24
%24

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