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 1 Work in process inventory, December 31. Cost of goods manufactured Finished goods inventory, December 11 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income Required: On Company $66,090 (a) 167,870 177,120 249,160 77,330 (b) 630,500 126,890 107,070 (c) 111,690 116,980 974,170 (d) (e) 126,890 (f) off Company $83,270 94,100 (a) (b) 187,360 93,260 538,760 630,500 200,680 (c) 533,760 93,260 (d) 832,700 538,760 (1) 184,860 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. e. f. $ Direct materials: S S 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 Total manufacturing costs incurred during December Total manufacturing costs $ 0000 0000 3. Prepare On Company's income statement for December. On Company Income Statement For the Month Ended December 31 Cost of goods sold: Dopo
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 1 Work in process inventory, December 31. Cost of goods manufactured Finished goods inventory, December 11 Finished goods inventory, December 31 Sales Cost of goods sold Gross profit Operating expenses Net income Required: On Company $66,090 (a) 167,870 177,120 249,160 77,330 (b) 630,500 126,890 107,070 (c) 111,690 116,980 974,170 (d) (e) 126,890 (f) off Company $83,270 94,100 (a) (b) 187,360 93,260 538,760 630,500 200,680 (c) 533,760 93,260 (d) 832,700 538,760 (1) 184,860 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. e. f. $ Direct materials: S S 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 Total manufacturing costs incurred during December Total manufacturing costs $ 0000 0000 3. Prepare On Company's income statement for December. On Company Income Statement For the Month Ended December 31 Cost of goods sold: Dopo
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 4PA: Manufacturing income statement, statement of cost of goods manufactured Several items are omitted...
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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 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
Required:
On
Company
$66,090
(a)
167,870
177,120
249,160
77,330
(b)
630,500
126,890
107,070
(c)
111,690
116,980
974,170
(d)
(e)
126,890
(f)
Off
Company
$83,270
94,100
(a)
(b)
187,360
93,260
538,760
630,500
200,680
(c)
533,760
93,260
(d)
832,700
538,760
(e)
(f)
184,860
1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.
Off Company
On Company
Letter
a.
b.
C.
d.
e.
f.
$
$
Direct materials:
$
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
Total manufacturing costs incurred during December
Total manufacturing costs
$
$
Q000
000
10000
3. Prepare On Company's income statement for December.
On Company
Income Statement
For the Month Ended December 31
Cost of goods sold:
10000
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