Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 2076: Inventories January 1 December 31 5364,520 Materials Work in process Finished goods 54.710 599,700 288.00 20,730 211.640 Advertising expense Depreciation expense-office wipment Depreciation expense-factory equipment Direct labor Heat. Ight, and power factory Indirect labor Materials purchased Office salaries expense Property taxes-tectory Property taxes-headquarters building Rent expense factory 10 Sales sales expense Supplies factory Miscellaneous costs-factory Required: 1. Prepare the statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 2016 Direct materials: 00 Factory overhead Required: 1. Prepare the statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 2016 Direct materials: Factory overhead o Total factory overhead Total manufacturing costs incurred Total manufacturing costs Cost of goods manufactured 2. Prepare the income statement. Shanika Company Income Statement For the Year Ended December 31, 2016 Cost of goods sold: Ou Operating expenses Administrative expenses 10 2. Prepare the income statement. Shanika Company Income Statement For the Year Ended December 31, 2046 Cost of goods sold: Operating expenses: Administrative expenses: Selling expenses: Total operating expenses Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 2076: Inventories January 1 December 31 5364,520 Materials Work in process Finished goods 54.710 599,700 288.00 20,730 211.640 Advertising expense Depreciation expense-office wipment Depreciation expense-factory equipment Direct labor Heat. Ight, and power factory Indirect labor Materials purchased Office salaries expense Property taxes-tectory Property taxes-headquarters building Rent expense factory 10 Sales sales expense Supplies factory Miscellaneous costs-factory Required: 1. Prepare the statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 2016 Direct materials: 00 Factory overhead Required: 1. Prepare the statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 2016 Direct materials: Factory overhead o Total factory overhead Total manufacturing costs incurred Total manufacturing costs Cost of goods manufactured 2. Prepare the income statement. Shanika Company Income Statement For the Year Ended December 31, 2016 Cost of goods sold: Ou Operating expenses Administrative expenses 10 2. Prepare the income statement. Shanika Company Income Statement For the Year Ended December 31, 2046 Cost of goods sold: Operating expenses: Administrative expenses: Selling expenses: Total operating expenses
