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The following data refer to snack maker Taquitos To Go for the year 20x1. Work-in-process inventory, 12/31/x0 $ 8,000 Selling and administrative salaries 13,700 Insurance
The following data refer to snack maker Taquitos To Go for the year 20x1.
Work-in-process inventory, 12/31/x0 | $ 8,000 |
---|---|
Selling and administrative salaries | 13,700 |
Insurance on factory and equipment | 3,600 |
Work-in-process inventory, 12/31/x1 | 8,200 |
Finished-goods inventory, 12/31/x0 | 14,000 |
Cash balance, 12/31/x1 | 8,000 |
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 | 15,300 |
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 | 3,600 |
Indirect-labor cost incurred | 29,000 |
Depreciation on factory building | 3,800 |
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 | 4,200 |
Rental for warehouse space to store raw material | 2,900 |
Rental of space for company presidents office | 1,500 |
Applied manufacturing overhead | 58,000 |
Sales revenue | 207,800 |
Income tax expense | 5,100 |
3. Prepare the companys income statement for 20x1.
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