Consider the following information for Huntersville, Inc., for the fiscal year ended December 31. Depreciation expenseadministrative office
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Question:
Consider the following information for Huntersville, Inc., for the fiscal year ended December 31.
Depreciation expense—administrative office | $ 32,000 |
Depreciation expense: plant and equipment | 86,000 |
Direct labor: wages | 487,000 |
Direct Materials Inventory, December 31 | 26,000 |
Direct Materials Inventory, January 1 | 19,000 |
direct purchases of materials | 155.000 |
Finished Goods Inventory, December 31 | 38,000 |
Finished Goods Inventory, January 1 | 15,000 |
Heat, light and power plant | 44.000 |
indirect work | 25,000 |
Property taxes—plant | 34,000 |
Sales Representative Salaries | 145.000 |
sales revenue | 1,495,000 |
factory supervisor salary | 66,000 |
Supplies—administrative office | 16,000 |
supplies—plant | 29,000 |
Work in Process Inventory, December 31 | 9,000 |
Work in Process Inventory, January 1 | 23,000 |
Required
Prepare a statement of cost of goods manufactured and an income statement for Huntersville for the year ended December 31,
Related Book For
Intermediate Accounting
ISBN: 978-0134730370
2nd edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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