Required: 1. Prepare the 20Y6 statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6 Direct materials: Factory overhead: Total factory overhead Total manufacturing costs incurred in 2016 Total manufacturing costs 2. Prepare the 20Y6 income statement. Shanika Company Income Statement For the Year Ended December 31, 20Y6 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses: Total operating expenses 0000 00 00
Required: 1. Prepare the 20Y6 statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6 Direct materials: Factory overhead: Total factory overhead Total manufacturing costs incurred in 2016 Total manufacturing costs 2. Prepare the 20Y6 income statement. Shanika Company Income Statement For the Year Ended December 31, 20Y6 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses: Total operating expenses 0000 00 00
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 5PB: Statement of cost of goods manufactured and income statement for a manufacturing company The...
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![Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company
The following information is available for Shanika Company for 20Y6:
January December 31
$77,350
109,200
113,750
Inventories
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
$95,550
96,200
100,100
Supplies-factory
Miscellaneous costs-factory
Required:
$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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faed3de54-433a-4da2-b51c-03cbeee1d515%2F98ef1a98-0d47-4f2f-811c-f9b96141cf9c%2Fwx7a06hr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company
The following information is available for Shanika Company for 20Y6:
January December 31
$77,350
109,200
113,750
Inventories
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
$95,550
96,200
100,100
Supplies-factory
Miscellaneous costs-factory
Required:
$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
![Required:
1. Prepare the 20Y6 statement of cost of goods manufactured.
Shanika Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 20Y6
Direct materials:
Factory overhead:
Total factory overhead
Total manufacturing costs incurred in 2016
Total manufacturing costs
2. Prepare the 20Y6 income statement.
Shanika Company
Income Statement
For the Year Ended December 31, 20Y6
Cost of good sold:
Operating expenses:
Administrative expenses:
Selling expenses:
Total operating expenses
00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faed3de54-433a-4da2-b51c-03cbeee1d515%2F98ef1a98-0d47-4f2f-811c-f9b96141cf9c%2Fw7wx47f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required:
1. Prepare the 20Y6 statement of cost of goods manufactured.
Shanika Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 20Y6
Direct materials:
Factory overhead:
Total factory overhead
Total manufacturing costs incurred in 2016
Total manufacturing costs
2. Prepare the 20Y6 income statement.
Shanika Company
Income Statement
For the Year Ended December 31, 20Y6
Cost of good sold:
Operating expenses:
Administrative expenses:
Selling expenses:
Total operating expenses
00
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