It was the penultimate Barclays Academy League game of 2011 for Adam Sadler's side and they were in an unforgiving mood after Wolves beat them 3-0 earlier in the season in the West Midlands.
Sadler decided to rest star striker Jordi Hiwula after his appearance in the Elite Development Squad's midweek 3-2 win over Rochdale in the Manchester Senior Cup and it was Cole who stepped up to steal the show, bagging a treble in a captivating display.
The Blues dominated from start to finish with Cole's first goal coming after 10 minutes after he slotted the ball past Wolves goalkeeper Jonathan Flatt for the only goal of the first half..
The Blues roared out of the blocks after the re-start with two quick-fire strikes. The first came from Greg Leigh who nodded home from an in-swinging corner and not long after Cole made it three after he rounded Flatt and rolled the ball home.
Rusnak fired a fourth after 56 minutes from the edge of the box and Cole completed his hat-trick after finishing past Flatt after a powering run through midfield from King.
A desperate Wolves grabbed a consolation goal from a free-kick, but City weren't finished and Henshall topped off the scoring with a superb curled shot from 25 yards.
The result means that City replace Wolves at the top of the table.