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 $374,540 $460,680 Work in process 674,170 626,520 Finished goods 647,950 640,350 $312,800 44,230 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 59,430 709,450 23,490 82,920 695,630 242,780 A 19,350 40,080 Sales 32,710 3,257,010 399.870 Sales salaries expense 3,257,010 399,870 Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory Required: 16,120 10,130 1. Prepare the 20Y6 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: Factory overhead: Ql11110 Total factory overhead Total manufacturing costs incurred in 2076 Total manufacturing costs