of Required information The following information applies to the questions displayed below) The following data refer to Twisto Pretzel Company for the year 20x1 DOK Work in process inventory. 12/31/xa Selling and administrative salaries Insurance on factory and equipotent Work in process inventory. 12/31/X1 Finished-goods inventory, 12/31/ Cash balance, 12/31/1 Indirect material used Depreciation on factory equipment Raw material inventory, 12/31/ Property taxes on factory Finished goods inventory, 12/31/x1 Purchases of raw material in 28x1 Utilities for factory Utilities to les and adsinistrative 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, 12/31/1 Accounts receivable, 12/31/1 Rental for warehouse space to store raw material Rental of space for company president's office Applied manufacturing overhead Sales revenue Income tax expense $ 8,00 13,500 3,600 8,100 14,380 5.000 4,600 2.180 19,200 2,480 35,300 39. eae 6,00 2,400 3.800 29,000 3,890 1,200 79.000 11,000 4,100 3.000 1,7ee 58. De 209,800 5, 100 ances Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20X1 Direct material: Raw-material inventory, 12/31/x0 $ 0 $ 0 Raw material used Direct labor Manufacturing overhead: $ Total actual manufacturing overhead 0 0 Overhead applied to work in process Total manufacturing costs $ 0 Subtotal $ 0 $ 0 Cost of goods manufactured 2. Prepare the company's schedule of cost of goods sold for 20x1. The company closes overapplied or underapplied overhead into Cost of Goods Sold TWISTO PRETZEL COMPANY Schedule of Cost of Goods Sold For the Year Ended December 31, 20X1 Finished-goods inventory, 12/31/X0 Cost of goods available for sale S 0 Cost of goods sold $ 0 Adjusted cost of goods sold s 0 5. Prepare the company's income statement for 20x1. TWISTO PRETZEL COMPANY Income Statement For the Year Ended December 31, 20X1 $ $ Selling and administrative expenses: Total $ $ Required: 1. Prepare Twisto Pretzel Company's schedule of cost of goods manufactured for 20x1. TWISTO PRETZEL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20X1 Direct material: Raw-material inventory, 12/31/x0 $ 0 $ 0 Raw material used Direct labor Manufacturing overhead