Obj. 3PR 15-4B Manufacturing income statement, statement of cost of goodsmanufacturedny,00Several items are omitted from the income statement and cost of goods manufactured statementdata for two different companies for the month of December:OffCompany$ 195,30091,140OnCompany$ 65,800Materials inventory, December 1Materials inventory, December 31Materials purchasedCost of direct materials used in production(a)282,800(a)317,800(b)Direct labor387,800577,220256,060Factory overheadTotal manufacturing costs incurred in DecemberTotal manufacturing costsWork in process inventory, December 1Work in process inventory, December 31Cost of goods manufacturedFinished goods inventory, December 1Finished goods inventory, December 31Sales148,400(b)1,519,000973,0001,727,320208,320(c)119,000172,200(c)1,532,020224,000269,080197,400(d)1,127,000(d)1,944,320Cost of goods soldGross profit1,545,040(e)117,600(f).(e)(f)164,920Operating expensesNet incomeInstructions1. For both companies, determine the amounts of the missing items (a) through (f), identifvingthem by letter.2. Prepare On Company's statement of cost of goods manufactured for December3. Prepare On Company's income statement for December.

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MiSsing items (a) through (f), identifying 1. For both companies, determine the them by letter. 2. Prepare On Company's statement of cost of goods manufactured for December 3. Prepare On Company's income statement for December.

MiSsing items (a) through (f), identifying 1. For both companies, determine the them by letter. 2. Prepare On Company's statement of cost of goods manufactured for December 3. Prepare On Company's income statement for December.

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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