3-56 Cost of Goods Manufactured; Income Statement 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) Direct labor-wages 86.000 487,000 Materials Inventory, Dec. 31 26,000 Materials Inventory, Jan. 1 19,000 Direct materials purchases 155,000 Finished Goods Inventory, Dec. 31 38,000 15,000 Finished Goods Inventory, Jan. 1 Heat, light, and power-plant Indirect labor Property taxes-plant Sales representatives' salaries 44.000 25.000 34,000 145.000 Sales revenue 1,495,000 Factory supervisor's salary 66,000 Supplies-administrative office 16.000 Supplies-plant 29,000 Work-in-Process Inventory, Dec. 31 9,000 Work-in-Process Inventory, Jan. 1 23,000 Required Prepare a statement of cost of goods manufactured and an income statement for Huntersville for the year ended December 31, similar to those in Exhibit 3.15A. Page 0105