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

Depreciation expenseadministrative office $36,900

Depreciation expenseplant and equipment 93,000

Direct laborwages 542,100

Materials Inventory, Dec. 31 36,500

Materials Inventory, Jan. 1 26,000

Direct materials purchases 190,000

Finished goods inventory, Dec. 31 24,400

Finished goods inventory, Jan. 1 16,400

Heat, light, and powerplant 48,200

Indirect labor 27,800

Property taxesplant 37,500

Sales representatives' salaries 152,000

Sales revenue 1,653,000

Factory supervisor's salary 68,100

Suppliesadministrative office 18,800

Suppliesplant 30,400

Work-in-process inventory, Dec. 31 11,800

Work-in-process inventory, Jan. 1 26,500

Required:

A. Make a statement of cost of goods manufactured and an income statement 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

B. Make 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