The following information is available for Shanika Company for 2016: Inventories January 1 December 31 Materials...
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The following information is available for Shanika Company for 2016: Inventories January 1 December 31 Materials $301,120 Work in process 542,020 Finished goods 520,940 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory <Indirect labor $367,370 499,620 510,640 Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building. Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory $249,440 35,270 47,390 565,750 18,740 66,130 554,730 193,600 15,430 31,960 26,080 2,597,310 318,880 12,860 8,080 1. Prepare the 20Y6 statement of cost of goods manufactured. 2. Prepare the 20Y6 income statement. The following information is available for Shanika Company for 2016: Inventories January 1 December 31 Materials $301,120 Work in process 542,020 Finished goods 520,940 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory <Indirect labor $367,370 499,620 510,640 Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building. Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory $249,440 35,270 47,390 565,750 18,740 66,130 554,730 193,600 15,430 31,960 26,080 2,597,310 318,880 12,860 8,080 1. Prepare the 20Y6 statement of cost of goods manufactured. 2. Prepare the 20Y6 income statement.
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Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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