Question: Please help! The first table is the table for the Statement of COGM and the second is for the income statement. Thank you! Consider the
Please help! The first table is the table for the Statement of COGM and the second is for the income statement. Thank you!



Consider the following information for Huntersville Inc. for the fiscal year ended December 31. $ Depreciation expense-administrative office Depreciation expense-plant and equipment Direct labor-wages Materials Inventory, Dec. 31 Materials Inventory, Jan. 1 Direct materials purchases Finished goods inventory, Dec. 31 Finished goods inventory, Jan. 1 Heat, light, and power-plant Indirect labor Property taxes-plant Sales representatives salaries Sales revenue Factory supervisor's salary Supplies-administrative office Supplies-plant Work-in-process inventory, Dec. 31 Work-in-process inventory, Jan. 1 32,000 86,000 487,000 26,000 19,000 155,000 38,000 15,000 44,000 25,000 34,000 145,000 1,495,000 66,000 16,000 29,000 9,000 23,000 Required: Prepare a statement of cost of goods manufactured and an income statement for Huntersville for the year ended December 31 Complete this question by entering your answers in the tabs below. Direct materials Materials available Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total manufacturing costs to account for Add: Ending work-in-process inventory Cost of goods manufactured Prepare an income statement for Huntersville for the year ended December 31. Huntersville, Inc. Income Statement For the Year Ended December 31 Cost of goods sold Cost of goods available for sale Cost of goods sold Total selling & administrative expenses
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
