(Solved): Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company Shanika ...

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20 Y 6 Work in process inventory, January \( 1,20 \mathrm{Y} 6 \) Direct materials: Heat, light, and power-factory Property taxes-headquarters building Rent expense-factory Supplies-factory Miscellaneous costs-factory Total factory overhead Total manufacturing costs incurred Total manufacturing costs Cost of goods manufactured 2. Prepare the income statement. Shanika Company Income Statement For the Year Ended December 31, 20 Y 6 Cost of goods sold: Operating expenses: Administrative expenses: For the Year EndedDecember 31, 20Y6 Administrative expenses: Selling expenses: Total operating expenses