3-56 (Algo) Cost of Goods Manufactured; Income Statement [LO 3-4] Consider the following information for Huntersville Incorporated for the fiscal year ended December 31. Depreciation expense-administrative office Depreciation expense-plant and equipment Direct labor-wages Materials Inventory, December 31 Materials Inventory, January 1 Direct materials purchases Finished goods inventory, December 31 Finished goods inventory, January 1 Heat, light, and power-plant Indirect labor Property taxes-plant Sales representatives' salaries Sales revenue $ 35,850 91,500 530,400 34,250 24,500 182,500 24,400 16,100 47,300 27,200 36,750 150,500 1,616,000 Factory supervisor's salary 67,650 Supplies-administrative office 18,200 Supplies-plant 30,100 Work-in-process inventory, December 31 11,200 Work-in-process inventory, January 1 25,750 Stmt of COGM Income Statement Prepare a statement of cost of goods manufactured for Huntersville for the year ended December 31. Huntersville, Inc Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials Materials available Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total manufacturing costs to account for Cost of goods manufactured Stmt of COGM Income Statement > Stmt of COGM Income Statement 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 < Stmt of COGM Income Statement