Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

 

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 $ 8,000 13,700 3,600 8,300 14,000 8,000 4,300 2,100 10,100 2,400 Finished-goods inventory, 12/31/1 15,300 Purchases of raw material in 20x1 39,000 Utilities for factory 6,000 Utilities for sales and administrative offices 2,300 Other selling and administrative expenses 3,600 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 Income tax expense 207,800 5,100 Required: 1. Prepare Taquitos To Go's schedule of cost of goods manufactured for 20x1. Required: 1. Prepare Taquitos To Go's schedule of cost of goods manufactured for 20x1. Direct material: TAQUITOS TO GO Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20X1 Raw-material inventory, 12/31/x0 Raw material used Direct labor Manufacturing overhead: $ 0 Total actual manufacturing overhead $ 0 Overhead applied to work in process Total manufacturing costs Subtotal Cost of goods manufactured $ 0 $ $ 0 0 0 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Creating Value In A Dynamic Business Environment

Authors: Ronald Hilton, David Platt

13th Edition

1264100698, 9781264100699

More Books

Students also viewed these Accounting questions

Question

Briefly describe the time-and-material pricing approach.

Answered: 1 week ago