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Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Compa The following information is available for Shanika Company for 2016: December 31 Factory overhead: Inventories Materials. Work in process Finished goods of goods manufactur Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense January 1 $247,890 446,200 428,850 Property taxes-factory Property taxes-headquarters building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory Required: Work in process inventory, January 1, 20Y6 Direct materials: 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 otal factory overhead atal manufacturing costs incurred in 2016 tal manufacturing costs $304.900 414,660 423,810 00 0000 0000000 0 00 $207,030 29,270 39,33 469,55 15,550 54,880 460,400 160,680 12,810 26,530 21,650 2,155,640 264,650 10,670 6,710 2. Prepare the 20Y6 income statement. Shanika Company Income Statement For the Year Ended December 31, 2016 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses: 10000 100 000 Total operating expenses 00

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Compa The following information is available for Shanika Company for 2016: December 31 Factory overhead: Inventories Materials. Work in process Finished goods of goods manufactur Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense January 1 $247,890 446,200 428,850 Property taxes-factory Property taxes-headquarters building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory Required: Work in process inventory, January 1, 20Y6 Direct materials: 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 otal factory overhead atal manufacturing costs incurred in 2016 tal manufacturing costs $304.900 414,660 423,810 00 0000 0000000 0 00 $207,030 29,270 39,33 469,55 15,550 54,880 460,400 160,680 12,810 26,530 21,650 2,155,640 264,650 10,670 6,710 2. Prepare the 20Y6 income statement. Shanika Company Income Statement For the Year Ended December 31, 2016 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses: 10000 100 000 Total operating expenses 00

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...
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Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Compa The following information is available for Shanika Company for 20Y6: January 1 December 31 $247,890 446,200 428,850 Factory overhead: Inventories Materials. Work in process Finished goods est of goods manufactured 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 Supplies-factory Miscellaneous costs-factory Required: 1. Prepare the 20Y6 statement of cost of goods manufactured. Statement of Cost of Goods Manufactured Shanika Company For the Year Ended December 31, 2016 Work in process inventory, January 1, 2016 Direct materials: Total factory overhead Total manufacturing costs incurred in 2016 Total manufacturing costs $304,900 414,660 423,810 00000000000 0 00 $207,030 29,270 39,33 469,55 15,550 54,880 460,400 160,680 12,810 26,530 21,650 2,155,640 264,650 10,670 6,710 2. Prepare the 20Y6 income statement. Shanika Company Income Statement For the Year Ended December 31, 2016 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses: 0000 000 00 Total operating expenses
Transcribed Image Text:Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Compa The following information is available for Shanika Company for 20Y6: January 1 December 31 $247,890 446,200 428,850 Factory overhead: Inventories Materials. Work in process Finished goods est of goods manufactured 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 Supplies-factory Miscellaneous costs-factory Required: 1. Prepare the 20Y6 statement of cost of goods manufactured. Statement of Cost of Goods Manufactured Shanika Company For the Year Ended December 31, 2016 Work in process inventory, January 1, 2016 Direct materials: Total factory overhead Total manufacturing costs incurred in 2016 Total manufacturing costs $304,900 414,660 423,810 00000000000 0 00 $207,030 29,270 39,33 469,55 15,550 54,880 460,400 160,680 12,810 26,530 21,650 2,155,640 264,650 10,670 6,710 2. Prepare the 20Y6 income statement. Shanika Company Income Statement For the Year Ended December 31, 2016 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses: 0000 000 00 Total operating expenses
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