PR 3-42 (Algo) Schedule of Cost of Goods Manufactured and Sold; Income Statement (LO 3-6) [The following information applies to the questions displayed below.] The following data refer to snack maker Taquitos To Go for the year 20x1. Work-in-process inventory, 12/31/x0 Selling and administrative salaries Insurance on factory and equipment Work-in-process inventory, 12/31/x1 Finished-goods inventory, 12/31/x0 Cash balance, 12/31/x1 Indirect material used. Depreciation on factory equipment Raw-material inventory, 12/31/x0 Property taxes on factory Finished-goods inventory, 12/31/x1 Purchases of raw material in 20x1 Utilities for factory Utilities for sales and administrative offices. Other selling and administrative expenses Indirect-labor cost incurred Depreciation on factory building Depreciation on cars used by sales personnel Direct-labor cost incurred Raw-material inventory, 12/31/x1 Accounts receivable, 12/31/x1 Rental for warehouse space to store raw material Rental of space for company president's office Applied manufacturing overhead Sales revenue Income tax expense $ 8,000 13,700 3,600 8,300 14,000 8,000 4,300 2,100 10,200 2,400 15,300 39,200 6,000 2,400 3,800 29,000 3,600 1,200 79,000 11,000 4,200 3,100 1,500 58,000 207,800 5,100 PR 3-42 (Algo) Part 1 Prepare the company's schedule of cost of goods manufactured...
PR 3-42 (Algo) Schedule of Cost of Goods Manufactured and Sold; Income Statement (LO 3-6) [The following information applies to the questions displayed below.] The following data refer to snack maker Taquitos To Go for the year 20x1. Work-in-process inventory, 12/31/x0 Selling and administrative salaries Insurance on factory and equipment Work-in-process inventory, 12/31/x1 Finished-goods inventory, 12/31/x0 Cash balance, 12/31/x1 Indirect material used. Depreciation on factory equipment Raw-material inventory, 12/31/x0 Property taxes on factory Finished-goods inventory, 12/31/x1 Purchases of raw material in 20x1 Utilities for factory Utilities for sales and administrative offices. Other selling and administrative expenses Indirect-labor cost incurred Depreciation on factory building Depreciation on cars used by sales personnel Direct-labor cost incurred Raw-material inventory, 12/31/x1 Accounts receivable, 12/31/x1 Rental for warehouse space to store raw material Rental of space for company president's office Applied manufacturing overhead Sales revenue Income tax expense $ 8,000 13,700 3,600 8,300 14,000 8,000 4,300 2,100 10,200 2,400 15,300 39,200 6,000 2,400 3,800 29,000 3,600 1,200 79,000 11,000 4,200 3,100 1,500 58,000 207,800 5,100 PR 3-42 (Algo) Part 1 Prepare the company's schedule of cost of goods manufactured...
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![PR 3-42 (Algo) Schedule of Cost of Goods Manufactured and Sold; Income Statement (LO 3-6)
[The following information applies to the questions displayed below.]
The following data refer to snack maker Taquitos To Go for the year 20x1.
Work-in-process inventory, 12/31/x0
Selling and administrative salaries.
Insurance on factory and equipment
Work-in-process inventory, 12/31/x1
Finished-goods inventory, 12/31/x0
Cash balance, 12/31/x1
Indirect material used.
Depreciation on factory equipment
Raw-material inventory, 12/31/x0
Property taxes on factory
Finished-goods inventory, 12/31/x1
Purchases of raw material in 20x1.
Utilities for factory.
Utilities for sales and administrative offices.
Other selling and administrative expenses
Indirect-labor cost incurred
Depreciation on factory building
Depreciation on cars used by sales personnel
Direct-labor cost incurred
Raw-material inventory, 12/31/x1
Accounts receivable, 12/31/x1
Rental for warehouse space to store raw material
Rental of space for company president's office
Applied manufacturing overhead
Sales revenue
Income tax expense
$ 8,000
13,700
3,600
8,300
14,000
8,000
4,300
2,100
10,200
2,400
15,300
39,200
6,000
2,400
3,800
29,000
3,600
1,200
79,000
11,000
4,200
3,100
1,500
58,000
207,800
5,100
PR 3-42 (Algo) Part 1 Prepare the company's schedule of cost of goods manufactured...](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0d6c740a-2a5c-4fa4-80ac-a2000d8c1591%2F9d9d0e10-f797-4bd5-ac23-756149af1078%2Fq2kgwws_processed.jpeg&w=3840&q=75)
Transcribed Image Text:PR 3-42 (Algo) Schedule of Cost of Goods Manufactured and Sold; Income Statement (LO 3-6)
[The following information applies to the questions displayed below.]
The following data refer to snack maker Taquitos To Go for the year 20x1.
Work-in-process inventory, 12/31/x0
Selling and administrative salaries.
Insurance on factory and equipment
Work-in-process inventory, 12/31/x1
Finished-goods inventory, 12/31/x0
Cash balance, 12/31/x1
Indirect material used.
Depreciation on factory equipment
Raw-material inventory, 12/31/x0
Property taxes on factory
Finished-goods inventory, 12/31/x1
Purchases of raw material in 20x1.
Utilities for factory.
Utilities for sales and administrative offices.
Other selling and administrative expenses
Indirect-labor cost incurred
Depreciation on factory building
Depreciation on cars used by sales personnel
Direct-labor cost incurred
Raw-material inventory, 12/31/x1
Accounts receivable, 12/31/x1
Rental for warehouse space to store raw material
Rental of space for company president's office
Applied manufacturing overhead
Sales revenue
Income tax expense
$ 8,000
13,700
3,600
8,300
14,000
8,000
4,300
2,100
10,200
2,400
15,300
39,200
6,000
2,400
3,800
29,000
3,600
1,200
79,000
11,000
4,200
3,100
1,500
58,000
207,800
5,100
PR 3-42 (Algo) Part 1 Prepare the company's schedule of cost of goods manufactured...
Transcribed Image Text:Direct material:
Raw-material inventory, 12/31/x0
Raw material used
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 20X1
Direct labor
Manufacturing overhead:
Total actual manufacturing overhead
Overhead applied to work in process
Total manufacturing costs
Subtotal
Cost of goods manufactured
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