Prepare the statement of cost of goods manufactured

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Question - Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company - The following information is available for Shanika Company for 20Y6:

Inventories

January 1

December 31

Materials

$446,090

$553,150

Work in process

802,960

752,280

Finished goods

771,740

768,880

 

Advertising expense

$375,590

Depreciation expense-office equipment

53,100

Depreciation expense-factory equipment

71,360

Direct labor

851,850

Heat, light, and power-factory

28,210

Indirect labor

99,570

Materials purchased

835,260

Office salaries expense

291,510

Property taxes-factory

23,230

Property taxes-headquarters building

48,120

Rent expense-factory

39,270

Sales

3,910,770

Sales salaries expense

480,130

Supplies-factory

19,360

Miscellaneous costs-factory

12,170

Required -

1. Prepare the 20Y6 statement of cost of goods manufactured.

2. Prepare the 20Y6 income statement.

Reference no: EM133087463

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