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	$233,740	$292,180
Work in process	420,730	397,360
Finished goods	404,370	406,130
Advertising expense		$198,390
Depreciation expense-office equipment		28,050
Depreciation expense-factory equipment		37,690
Direct labor		449,960
Heat, light, and power-factory		14,900
Indirect labor		52,590
Materials purchased		441,190
Office salaries expense		153,980
Property taxes-factory		12,270
Property taxes-headquarters building		25,420
Rent expense-factory		20,740
Sales		2,065,710
Sales salaries expense		253,610
Supplies-factory		10,230
Miscellaneous costs-factory		6,430

Required:

1. Prepare the statement of cost of goods manufactured.

Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6

Depreciation expense-factory equipment / Indirect labor / Supplies / Work in process inventory, January 1, 20Y6 / Work in process inventory, December 31, 20Y6			$- Select -
Direct materials:
Materials inventory, January 1, 20Y6 / Rent expense-factory / Supplies-factory / Work in process inventory, January 1, 20Y6 / Work in process inventory, December 31, 20Y6	$- Select -
Indirect labor / Property taxes-headquarters building / Purchases / Work in process inventory, January 1, 20Y6 / Work in process inventory, December 31, 20Y6	- Select -
Cost of finished goods available for sale / Cost of goods manufactured / Cost of goods sold / Cost of materials available for use / Indirect labor	$- Select -
Less indirect labor / Less materials inventory, December 31, 20Y6 / Less miscellaneous cost-factory / Less work in process inventory, January 1, 20Y6 / Less work in process inventory, December 31, 20Y6	- Select -
Cost of direct materials used / Cost of finished goods available for sale / Cost of goods manufactured / Cost of goods sold / Indirect labor		$- Select -
Depreciation expense-factory equipment / Direct labor / Indirect labor / Miscellaneous costs-factory / Supplies-factory		- Select -
Factory overhead:
Cost of materials available for use / Indirect labor / Materials inventory, January 1, 20Y6 / Materials inventory, December 31, 20Y6 / Purchases	$- Select -
Cost of materials available for use / Depreciation expense-factory equipment / Depreciation expense-office equipment / Direct labor / Purchases	- Select -
Direct labor / Heat, light, and power-factory / Materials inventory, January 1, 20Y6 / Materials inventory, December 31, 20Y6 / Work in process inventory, December 31, 20Y6	- Select -
Cost of materials available for use / Direct labor / Property taxes-factory / Property taxes-headquarters building / Work in process inventory, December 31, 20Y6	- Select -
Direct labor / Purchases / Rent expense-factory / Sales salaries expense / Work in process inventory, December 31, 20Y6	- Select -
Cost of goods sold / Cost of materials available for use / Direct labor / Purchases / Supplies-factory	- Select -
Advertising expense / Cost of materials available for use / Direct materials / Miscellaneous costs-factory / Purchases	- Select -
Total factory overhead		fill in the blank 290fa7054014fff_29
Total manufacturing costs incurred			fill in the blank 290fa7054014fff_30
Total manufacturing costs			$fill in the blank 290fa7054014fff_31
Less cost of materials available for use / Less direct materials / Less materials inventory, December 31, 20Y6 / Less work in process inventory, January 1, 20Y6 / Less work in process inventory, December 31, 20Y6			- Select -
Cost of goods manufactured			$fill in the blank 290fa7054014fff_34

2. Prepare the income statement.

Shanika Company Income Statement For the Year Ended December 31, 20Y6

Cost of goods sold / Gross profit / Indirect labor / Office salaries expense / Sales			$- Select -
Cost of goods sold:
Advertising expense / Finished goods inventory, January 1, 20Y6 / Gross profit / Office salaries expense / Sales		$- Select -
Cost of direct materials used / Cost of finished goods available for sale / Cost of goods manufactured / Cost of materials available for use / Office salaries expense		- Select -
Cost of direct materials used / Cost of finished goods available for sale / Cost of goods sold / Cost of materials available for use / Office salaries expense		$- Select -
Less advertising expense / Less depreciation expense-office equipment / Less finished goods inventory, December 1, 20Y6 / Less finished goods inventory, December 31, 20Y6 / Less purchases		- Select -
Cost of direct materials used / Cost of goods manufactured / Cost of goods sold / Cost of materials available for use / Sales salaries expense			- Select -
Cost of goods sold / Gross profit / Property taxes-headquarters building / Sales / Sales salaries expense			$- Select -
Operating expenses:
Administrative expenses:
Cost of goods manufactured / Cost of goods sold / Office salaries expense / Sales / Sales salaries expense	$- Select -
Advertising expense / Cost of goods manufactured / Cost of goods sold / Depreciation expense-office equipment / Gross profit	- Select -
Cost of goods sold / Cost of goods manufactured / Gross profit / Property taxes-headquarters building / Sales	- Select -	$- Select -
Selling expenses:
Advertising expense / Cost of goods sold / Cost of goods manufactured / Office salaries expense / Sales	$- Select -
Cost of goods manufactured / Gross profit / Office salaries expense / Sales / Sales salaries expense	- Select -	- Select -
Total operating expenses			fill in the blank 483376f2cfde00f_27
Net income / Net loss			$- Select -