Reference no: EM132808804
The following data refer to Twisto Pretzel Company for the year 20x1.
Work-in-process inventory, 12/31/x0 $ 7,900
Selling and administrative salaries 13,700
Insurance on factory and equipment 3,600
Work-in-process inventory, 12/31/x1 8,300
Finished-goods inventory, 12/31/x0 14,000
Cash balance, 12/31/x1 6,000
Indirect material used 4,600
Depreciation on factory equipment 2,100
Raw-material inventory, 12/31/x0 10,200
Property taxes on factory 2,400
Finished-goods inventory, 12/31/x1 15,200
Purchases of raw material in 20x1 39,000
Utilities for factory 6,000
Utilities for sales and administrative offices 2,500
Other selling and administrative expenses 3,800
Indirect-labor cost incurred 29,000
Depreciation on factory building 3,600
Depreciation on cars used by sales personnel 1,200
Direct-labor cost incurred 79,000
Raw-material inventory, 12/31/x1 11,000
Accounts receivable, 12/31/x1 4,100
Rental for warehouse space to store raw material 3,000
Rental of space for company president's office 1,600
Applied manufacturing overhead 58,000
Sales revenue 205,800
Income tax expense 5,100
Problem 1. Prepare Twisto Pretzel Company's schedule of cost of goods manufactured for 20x1