Statement of cost of goods manufactured and income statement for a OBJ. 2, 3 manufacturing company The following information is available for Shanika Company for 2016:

Inventories January 1 December 31 Materials $ 77,350 $ 95,550 Work in process 109,200 96,200 Finished goods 113,750 100,100 Advertising expense $ 68,250 Depreciation expense—office equipment 22,750 Depreciation expense—factory equipment 14,560 Direct labor 186,550 Heat, light, and power—factory 5,850 Indirect labor 23,660 Materials purchased 123,500 Office salaries expense 77,350 Property taxes—factory 4,095 Property taxes—headquarters building 13,650 Rent expense—factory 6,825 Sales 864,500 Sales salaries expense 136,500 Supplies—factory 3,250 Miscellaneous costs—factory 4,420 Instructions 1. Prepare the 2016 statement of cost of goods manufactured.

2. Prepare the 2016 income statement.

1. Cost of goods manufactured,

$367,510 SHOW ME HOW Cases & Projects