Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 19 Aug 2017 My Price 9.00

Shanika Company

Statement of cost of goods manufactured and income statement for a manufacturing company

The following information is available for Shanika Company for    2016:

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

Depreciation expense—office equipment

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

 

 

Instructions

1.    Prepare the 2016 statement of cost of goods manufactured.

2.    Prepare the 2016 income statement.

 

Answers

(5)
Status NEW Posted 19 Aug 2017 11:08 PM My Price 9.00

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