Consider the following information for Huntersville Incorporated for the fiscal year ended December $31.$

Depreciation expense$$administrative office $ $35,850$

Depreciation expense$$plant and equipment $91,500$

Direct labor$$wages $530,400$

Materials Inventory, December $3134,250$

Materials Inventory, January $124,500$

Direct materials purchases $182,500$

Finished goods inventory, December $3124,400$

Finished goods inventory, January $116,100$

Heat, light, and power$$plant $47,300$

Indirect labor $27,200$

Property taxes$$plant $36,750$

Sales representatives$$ salaries $150,500$

Sales revenue $1,616,000$

Factory supervisor$$s salary $67,650$

Supplies$$administrative office $18,200$

Supplies$$plant $30,100$

Work$-$in$-$process inventory, December $3111,200$

Work$-$in$-$process inventory, January $125,750$

Required:

Prepare a statement of cost of goods manufactured and an income statement for Huntersville for the year ended December $31.$

Answer rating: 100% (QA)

Statement of Cost of Goods Manufactured for Huntersville Incorporated Direct materials Beginning In... View the full answer