LO 3-4)
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 86,000
Direct labor-wages 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
Finished Goods Inventory, Jan. 1 15,000
Heat, light, and power-plant 44,000
Indirect labor 25,000
Property taxes-plant 34,000
Sales representatives' salaries 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
Daepired 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.
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