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An asterisk (*) will appear to the right of an incorrect entry.
1.
Work in process inventory, January 1, 2014
Direct materials:
Cost of direct materials used in production
Direct labor
Factory overhead:
Total factory overhead
Total manufacturing costs incurred during the year
Total manufacturing costs
Less:
Cost of goods manufactured
2.
Sales
Cost of goods sold:
Cost of finished goods available for sale
Cost of goods sold
Gross profit
Operating expenses:
Administrative expenses:
Selling expenses:
Total operating expenses
Net income
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 2014
0%
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SHANIKA COMPANY
[Key code here]
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Instructions
Problem 16(1)-5B
Name:
Section:
SHANIKA COMPANY
Income Statement
For the Year Ended December 31, 2014
An asterisk (*) will appear to the right of an incorrect entry.
1.
Work in process inventory, January 1, 2014 109,200$
2.
Sales
864,500$
Cost of goods sold:
For the Year Ended December 31, 2014
SHANIKA COMPANY
Statement of Cost of Goods Manufactured
ON
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Score:
Instructions
Answers are entered in the cells with gray backgrounds.
Problem 16(1)-5B
Name:
Solution
Section:
SHANIKA COMPANY
Income Statement
For the Year Ended December 31, 2014
