Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company.

The following information is available for Shanika Company for 20Y6:

Prepare the statement of cost of goods manufactured.

Prepare the income statement. r r

Transcribed Image Text:

Inventories Materials Work in process Finished goods Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory. January 1 December 31 $305,220 $372,370 549,400 506,420 $28,030 517,590 $252,840 35,750 48,040 573,450 18,990 67,030 562,280 196,240 15,640 32,400 26,440 2,632,660 323,220 13,030 8,190 Inventories Materials Work in process Finished goods Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory. January 1 December 31 $305,220 $372,370 549,400 506,420 $28,030 517,590 $252,840 35,750 48,040 573,450 18,990 67,030 562,280 196,240 15,640 32,400 26,440 2,632,660 323,220 13,030 8,190

Answer rating: 100% (QA)

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