Please do not give solution in image format thanku Statement of Cost of Goods Manufactured and IncomeStatement for a Manufacturing CompanyThe following information is available for Shanika Companyfor 20Y6:InventoriesMaterialsWork in processFinished goodsJanuary 1 December 31$251,920453,460435,820Advertising expenseDepreciation expense-office equipmentDepreciation expense-factory equipmentDirect laborHeat, light, and power-factoryIndirect laborMaterials purchasedOffice salaries expenseProperty taxes-factoryProperty taxes-headquarters buildingRent expense-factorySalesSales salaries expenseSupplies-factoryMiscellaneous costs-factoryRequired:$309,860421,410430,710$210,39029,75039,970477,18015,80055,770467,890163,30013,01026,96022,0002,190,710268,96010,8506,820 1. Prepare the 20Y6 statement of cost of goodsmanufactured.Shanika CompanyStatement of Cost of Goods ManufacturedFor the Year Ended December 31, 20Y6Costs TypeAmount Amount AmountDirect materials:Factory overhead:Total factory overheadTotal manTotal manufacturing costscosts incurred in 20Y62. Prepare the 20Y6 income statement.Shanika CompanyIncome StatementFor the Year Ended December 31,20Y6Line Item DescriptionCost of good sold:Operating expenses:Administrative expenses:Total administrative expensesSelling expenses:Total selling expensesTotal operating expensesAmount Amount Amount

The cost of goods manufactured includes the cost of goods that are finished during the period. The…

The following information is available for Shanika Company for 20Y6: Inventories Materials Work in process Finished goods January 1 December 31 $251,920 $309,860 453,460 421,410 435,820 430,710 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 $210,390 29,750 39,970 477,180 15,800 55,770 467,890 163,300 13,010 26,960 22,000 2,190,710 268,960 10,850 6,820

The following information is available for Shanika Company for 20Y6: Inventories Materials Work in process Finished goods January 1 December 31 $251,920 $309,860 453,460 421,410 435,820 430,710 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 $210,390 29,750 39,970 477,180 15,800 55,770 467,890 163,300 13,010 26,960 22,000 2,190,710 268,960 10,850 6,820

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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