Prepare the 20Y6 statement of cost of goods manufactured. Prepare the 20Y6 income statement.
PR 15-5B Statement of cost of goods manufactured and income
- Cost of goods manufactured, $367,510 statement for a manufacturing company.
The following information is available for Shanika Company for 20Y6
Instructions
- Prepare the 20Y6 statement of cost of goods manufactured.
- Prepare the 20Y6 income statement.
|
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 |
|
|
|
$ 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 |
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