18-3 Exercises & Problems Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December ofr On Company Company $64,960$85,750 Materials inventory, December 1 Materials inventory, December 31 (a) 96,900 165,000 Materials purchased 174,090 Cost of direct materials used in production 244,900 192,940 Direct labor 76,000 96,040 Factory overhead (b) 554,800 >Total manufacturing costs incurred in December 619,710 761,460 Total manufacturing costs 124,720 206,660 Work in process inventory, December 1 105,240 Work in process inventory, December 31 (c) 549,660 Cost of goods manufactured 109,780 96,040 Finished goods inventory, December 1 114,980 Finished goods inventory, December 31 957,510857,500 Sales (d) 554,800 Cost of goods sold Gross profit 124,720 Operating expenses () 190,370 Net income Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers Off Company On Company Letter amounts of the missing items, identifying them by letter. Enter all amounts as positive Letter On Company Off Company a. b. C. d. e. 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 Direct materials: Total manufacturing costs incurred during December Total manufacturing costs Total manufacturing costs incurred during December Total manufacturing costs 3. Prepare On Company's income statement for December On Company Income Statement For the Month Ended December 31 Cost of goods sold