Question & Answer: PR 16-4B Manufacturing income statement, statement of cost of goods manufactured OBJ. 2, V1. c. On Company, Scvcral items are…..

PR 16-4B Manufacturing income statement, statement of cost of goods manufactured OBJ. 2, V1. c. On Company, Scvcral items are omitted from te income statement and cost of goods manufactured $800,800 statement data for wo different companies for the month DcemheT 2016: On Company 65,800 Off Company 5 195,300 Materials inventory, December 1 Materials inventory, December 31 Materials purchased Cost of direct materials usrd in production Direct bbor Factory overhead Total manufacturing costs incurred in December Tatal manufacturing costs Work in process inventory, Decrmber 1 Work in process inventory, Decrmber 31 Cost of goods manufactured Finished goods inventory December 1 Finishrd goods inventory, December 31 91,140 282,800 317,900 387,800 148,100 b) 577,220 256,060 1,519,000 1,727,320 209,320 973,000 119,000 172,200 532,020 269,080 224,000 197 400 1,127,000 1,944,320 1545,040 Cost of goods sold Gross profit Operating expenses Net incame lej 117,600 164,920 Instructions 1. Determine the amounts of the missing items, identiying them by letter. 2. Prepare On Company’s state ofost of goods manufactured for December 3. Prepare On Company’s income statement for December.