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 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 Gross profit Operating expenses Net income (a) (b) (c) (d) 3 (f) On Company 65,800 282,800 317,800 387,800 148,400 973,000 119,000 172,200 224,000 197,400 1,127,000 117,600 (a) (b) (c) 흐 (e) (1) Off Company 195,300 91,140 577,220 256,060 1,519,000 1,727,320 208,320 1,532,020 269,080 1,944,320 1,545,040 164,920

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 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 Gross profit Operating expenses Net income (a) (b) (c) (d) 3 (f) On Company 65,800 282,800 317,800 387,800 148,400 973,000 119,000 172,200 224,000 197,400 1,127,000 117,600 (a) (b) (c) 흐 (e) (1) Off Company 195,300 91,140 577,220 256,060 1,519,000 1,727,320 208,320 1,532,020 269,080 1,944,320 1,545,040 164,920

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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