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I need help on this problem I am stuck, thank you. Consider the following information for Huntersville Incorporated for the fiscal year ended December 31.
I need help on this problem I am stuck, thank you.
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 Factory supervisor's salary Supplies-administrative office Supplies-plant Work-in-process inventory, December 31 Work-in-process inventory, January 1 $ 38,650 95,500 561,600 40,250 28,500 202,500 24,400 16,900 49,700 28,800 38,750 154,500 1,716,000 68,850 19,800 30,900 12,800 27,750 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. 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 expensesStep by Step Solution
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