The following data refer to Twisto Pretzel Company 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 7,900 13,700 3,600 8,200 14,000 6,000 4,600 2,100 10,200 2,400 15,400 38,800 6,000 2,500 3,800 29,000 3,600 1,200 79,000 11,000 4 ,200 2,900 1,700 58,000 209,800 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 Depreciation on cars used by sales personnel on factory building 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 5,100 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 Raw material used 0 Direct labor Manufacturing overhead: $ Total actual manufacturing overhead 0 Overhead applied to work in process 0 Total manufacturing costs 0 Subtotal 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 0 $ Cost of goods sold 0 $ Adjusted cost of goods sold 0 EA