The following information is available for Sylte, Inc. for the year ended December 31, 2016: Materials...
The following information is available for Sylte, Inc. for the year ended December 31, 2016:
Materials Inventory, January 1 77,350
Materials Inventory, December 31 95,550
Work in Process Inventory, January 1 109,200
Work in Process Inventory, December 31 96,200
Finished Goods Inventory, January 1 113,750
Finished Goods Inventory, December 31 100,100
Advertising Expense 68,250
Depreciation Expense-Office Equipment 22,750
Depreciation Expense-Factory Equipment 14,560
Direct Labor 186,550
Utilities-Factory 5,850
Indirect Labor 23,660
Materials Purchased 123,500
Office Salaries Expense 77,350
Property Taxes-Factory 4,095
Property Taxes-Office 13,650
Rent Expense-Factory 6,825
Sales 864,500
Sales Salary Expense 136,500
Supplies-Factory 3,250
Miscellaneous Costs-Factory 4,420
Calculate the following for Sylte, Inc. for the year ended December 31, 2016 (show your work):
1. Cost of Goods Manufactured:
2. Cost of Goods Sold:
3. Gross Profit:
4. Net Income
Homework Answers
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The following information is available for Sylte, Inc. for the
year ended December 31, 2016:
Materials...
PR 18-5B Statement of cost of goods manufactured and income statement for a manufacturing company The...
PR 18-5B Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Shanika Company for 20Y6 Inventories Materials Work in process Finished goods January 1 77,350 09,200 113,750 December 31 95,550 96,200 100,100 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 68,250 22,750 14,560...
PR 18-5B Statement of cost of goods manufactured and income statement for a manufacturing company The...
PR 18-5B Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Shanika Company for 2014: 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...
Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information...
Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 20Y6: 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...
PR statement for a manufacturing company 15-5B Statement of cost of goods manufactured and income 1....
PR statement for a manufacturing company 15-5B Statement of cost of goods manufactured and income 1. Cost of goods The e following information is available for Shanika Company for 20Y6: inforn manufactured, 5367,510o December 31 Inventories Materials Work in process Finished goods January 1 s 77,350 109,200 113,750 95,550 96,200 SHOW ME HOW EXCEL TEMPLATE 100,100 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor 68,250 22,750 14,560 186,550 5,850 23,660 123,500 Materials...
PR 15-5B Statement of cost of goods manufactured and income statement for a manufacturing company Obj....
PR 15-5B Statement of cost of goods manufactured and income statement for a manufacturing company Obj. 4 The following information is available for Shanika Company for 2016: SHOW ME LTE TEMPLATE Inventories Materials Work in process Finished goods January 1 $ 77,350 109,200 113,750 December 31 $ 95,550 96,200 100,100 $ 68,250 22,750 14,560 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...
based on this diagram which of the following statements is/are accurate? ods PR 18-5B Statement of...
based on this diagram which of the following statements is/are
accurate?
ods PR 18-5B Statement of cost of goods manufactured and income statement for a OBJ. 2, 3 manufacturing company of roll 1200 The following information is available for Shanika Company for 2014: Inventories January 1 December 31 Materials $ 77,350 $ 95,550 Work in process 109,200 ple Finished goods 113,750 100,100 96,200 Advertising expense Depreciation expense-office equipment Depreciation expense--factory equipment Direct labor Heat, light, and power--factory Indirect labor Materials...
The following information is available for The NewQuest Corporation for 2016: Inventories January 1 December 31...
The following information is available for The NewQuest Corporation for 2016: Inventories January 1 December 31 Materials $78,650 $93,450 Work in process 108,000 96,000 Finished goods 114,750 109,800 December 31 Advertising expense $ 68,600 Depreciation expense-office equipment 21,250 Depreciation expense-factory equipment 14,640 Direct labor 185,050 Heat, light, and power-factory 5,250 Indirect labor 23,600 Materials purchased 124,800 Office salaries expense 76,900 Property taxes-factory 4,080 Property taxes-office building 13,250 Rent expense-factory 6,925 Sales 863,000 Sales salaries expense 137,500 Supplies-factory 3,250 Miscellaneous costs-factory...
Shanika Company Income Statement For the Year Ended December 31, 2046 Sales Cost of good sold:...
Shanika Company Income Statement For the Year Ended December 31, 2046 Sales Cost of good sold: Finished goods inventory, January 1, 2046 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, December 31, 2046 Cost of goods sold Gross profit Operating expenses: Administrative expenses: Office salaries expense Depreciation expense-office equipment Property taxes-headquarters building Selling expenses: Advertising expense Sales salaries expense Total operating expenses Net income 1. Prepare the 2016 statement of cost of goods manufactured....
The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials...
The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials Work in process 642,350 Finished goods617,370 $356,860 $435,370 592,100 605,160 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory $295,620 41,800 56,160 670,470 22,200 78,370 657,410 229,440 18,290 37,880 30,910 3,078,070 377,900 15,240 < ) 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 Required: 1. Prepare...
The following information is available for The NewQuest Corporation for 2016: Inventories January 1 December 31...
The following information is available for The NewQuest Corporation for 2016: Inventories January 1 December 31 Materials $78,650 $93,450 Work in process 108,000 96,000 Finished goods 114,750 109,800 December 31 Advertising expense $ 68,600 Depreciation expense-office equipment 21,250 Depreciation expense-factory equipment 14,640 Direct labor 185,050 Heat, light, and power-factory 5,250 Indirect labor 23,600 Materials purchased 124,800 Office salaries expense 76,900 Property taxes-factory 4,080 Property taxes-office building 13,250 Rent expense-factory 6,925 Sales 863,000 Sales salaries expense 137,500 Supplies-factory 3,250 Miscellaneous costs-factory...
PR 18-5B Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Shanika Company for 20Y6 Inventories Materials Work in process Finished goods January 1 77,350 09,200 113,750 December 31 95,550 96,200 100,100 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 68,250 22,750 14,560...
PR 18-5B Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Shanika Company for 2014: 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...
PR statement for a manufacturing company 15-5B Statement of cost of goods manufactured and income 1. Cost of goods The e following information is available for Shanika Company for 20Y6: inforn manufactured, 5367,510o December 31 Inventories Materials Work in process Finished goods January 1 s 77,350 109,200 113,750 95,550 96,200 SHOW ME HOW EXCEL TEMPLATE 100,100 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor 68,250 22,750 14,560 186,550 5,850 23,660 123,500 Materials...
PR 15-5B Statement of cost of goods manufactured and income statement for a manufacturing company Obj. 4 The following information is available for Shanika Company for 2016: SHOW ME LTE TEMPLATE Inventories Materials Work in process Finished goods January 1 $ 77,350 109,200 113,750 December 31 $ 95,550 96,200 100,100 $ 68,250 22,750 14,560 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...
based on this diagram which of the following statements is/are
accurate?
ods PR 18-5B Statement of cost of goods manufactured and income statement for a OBJ. 2, 3 manufacturing company of roll 1200 The following information is available for Shanika Company for 2014: Inventories January 1 December 31 Materials $ 77,350 $ 95,550 Work in process 109,200 ple Finished goods 113,750 100,100 96,200 Advertising expense Depreciation expense-office equipment Depreciation expense--factory equipment Direct labor Heat, light, and power--factory Indirect labor Materials...
Shanika Company Income Statement For the Year Ended December 31, 2046 Sales Cost of good sold: Finished goods inventory, January 1, 2046 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, December 31, 2046 Cost of goods sold Gross profit Operating expenses: Administrative expenses: Office salaries expense Depreciation expense-office equipment Property taxes-headquarters building Selling expenses: Advertising expense Sales salaries expense Total operating expenses Net income 1. Prepare the 2016 statement of cost of goods manufactured....
The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials Work in process 642,350 Finished goods617,370 $356,860 $435,370 592,100 605,160 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory $295,620 41,800 56,160 670,470 22,200 78,370 657,410 229,440 18,290 37,880 30,910 3,078,070 377,900 15,240 < ) 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 Required: 1. Prepare...
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