Question

Manufacturing Income Statement, Statement of Cost of Goods Manufactured everal items are omited from the income statement and cost of goods manufactured statement data for two different companies for the month of December off Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials used in production Direct labor Factory overhead $65,800 $195,300 (a) 91,140 282,800 317,800(b) 387,800577,220 148,400 256,060 ( < ) Total manufacturing costs incurred in December (b) 1,519,000 973,000 1,727,320 119,000208,320 172,200 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 (d 1,532025 224,000 269,080 1,127,000 1,944320 (d) 1,545,040 117,600 ( () 164,920 Required

Answer 1

Answer to Part 1 Letter a, b. C. d. On Company O 30800 854000 800800 827400 299600 182000 Off Compan 581560 685720 195300 256060 399280 234360

Answer to Part 2 ON COMPANY Statement of Cost of Goods Manufactured For the month ended December 31 Work in process inventory, December 1 Direct Materials: Materials Inventory, December 1 Add: Material Purchased Cost of Goods available for use Less: Material Inventory, December 31 Cost of Direct Materials used in Production Direct Labor Factory Overhead Total Manufacturing Costs incurred in December Total Manufacturing Costs Less: Work in Process Inventory, December 31 Cost of Goods Manufactured 119000 65800 282800 348600 30800 317800 387800 148400 854000 973000 172200 800800