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

The following information is available for Shanika Company for $20$Y$6$:

Inventories January $1$ December $31$

Materials $$318,920$ $$395,460$

Work in process $574,060537,830$

Finished goods $551,730549,690$

Line Item Description Amount

Advertising expense $$268,520$

Depreciation expense$-$office equipment $37,960$

Depreciation expense$-$factory equipment $51,010$

Direct labor $609,010$

Heat, light, and power$-$factory $20,170$

Indirect labor $71,180$

Materials purchased $597,140$

Office salaries expense $208,410$

Property taxes$-$factory $16,610$

Property taxes$-$headquarters building $34,410$

Rent expense$-$factory $28,080$

Sales $2,795,900$

Sales salaries expense $343,260$

Supplies$-$factory $13,840$

Miscellaneous costs$-$factory $8,700$

Required:

Question Content Area

$1.$  Prepare the $20$Y$6$ statement of cost of goods manufactured.

Shanika Company

Statement of Cost of Goods Manufactured

For the Year Ended December $31,20$Y$6.$

Answer rating: 100% (QA)

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