18-5B

PR 18-5B Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Shanika Company for 2014: oBJ. 2,3 Inventories January 1December 31 77,350 109,200 13,750 95,550 96,200 100,100 Materials Work in process Finished goods 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 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 Supplies-factory Miscellaneous costs-factory Instructions 1. Prepare the 2014 statement of cost of goods manufactured. 2. Prepare the 2014 income statement