The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $203,270 $256,120 Work in process 365,890 348,320 Finished goods 351,660 356,010 Advertising expense $173,910 Depreciation expense-office equipment 24,590 Depreciation expense-factory equipment 33,040 Direct labor 394,420 Heat, light, and power-factory 13,060 Indirect labor 46,100 Materials purchased 386,740 Office salaries expense 134,980 Property taxes-factory 10,760 Property taxes-headquarters building 22,280 Rent expense-factory 18,180 Sales 1,810,770 Sales salaries expense 222,310 Supplies-factory 8,960 Miscellaneous costs-factory 5,630

The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $203,270 $256,120 Work in process 365,890 348,320 Finished goods 351,660 356,010 Advertising expense $173,910 Depreciation expense-office equipment 24,590 Depreciation expense-factory equipment 33,040 Direct labor 394,420 Heat, light, and power-factory 13,060 Indirect labor 46,100 Materials purchased 386,740 Office salaries expense 134,980 Property taxes-factory 10,760 Property taxes-headquarters building 22,280 Rent expense-factory 18,180 Sales 1,810,770 Sales salaries expense 222,310 Supplies-factory 8,960 Miscellaneous costs-factory 5,630

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 26BE: Brief Exercise 1-26 Income Statement An analysis of the transactions of Rutherford Company for the...

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