The following information is available for Shanika Company for 2016: Instructions 1. Prepare the 2016 statement of
Question:
The following information is available for Shanika Company for 2016:
Instructions
1. Prepare the 2016 statement of cost of goods manufactured.
2. Prepare the 2016 income statement.
Transcribed Image Text:
Inventories Materials Work in process Finished goods January1 77,350 109,200 113,750 December 31 95,550 96,200 100,100 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 68,250 22,750 14,560 186,550 5,850 23,660 123,500 77,350 4,095 13,650 6,825 864.500 136,500 3,250 4,420
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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