Question

Required information [The following information applies to the questions displayed below.] 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 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 8,200 14,000 7,000 4,600 2,100 10,200 2,400 15,300 39,000 6,000 2,500 3,800 29,000 3,400 1,200 79,000 11,000 4,000 3,100 1,700 58,000 207,800 5,100

Can someone help me determine the remaining two parts to this question?

Answer 1

А B D G Н 2 3 4 5 Superior Company Schedule of Cost of Goods Sold For the Year Ended December 31,20X1 Finished goods Inventory, 12/31/x0 $ 14,000 Add: Cost of goods manufactured $ 175,000 Cost of goods available for sale $ 189,000 Less:Finished goods Inventory, 12/31/x1 $ 15,300 Unadjusted Cost of goods sold $ 173,700 Less: Overapplied overhead $ 3,800 Adjusted cost of goods sold $ 169,900 $ 207,800 $ 169,900 $ 37,900 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 $ 38,200 $ 79,000 Twisto Pretzel Company Schedule of Cost of Goods Manufactured For the Year Ended December 31,20X1 Direct Materials: Raw Material Inventory, 12/31/x0 $ 10.200 Add: Purchases of Raw Materials $ 39,000 Total Raw Materials available $ 49,200 Less: Raw Material Inventory, 12/31/x1 $ 11,000 Raw Materials used Direct Labor Manufacturing overhead Indirect Material used $ 4,600 Indirect Labor cost $ 29,000 Insurance on factory and equipment $ 3,600 Depreciation on factory equipment $ 2.100 Depreciation on factory building $ 3,400 Property taxes on factory $ 2,400 Utilities for factory $ 6,000 Rental of warehouse space to raw materials $ 3.100 Total actual Manufacturing Overhead $ 54,200 Add: Over applied Work in process $ 3,800 Overhead applied to work in process Total Manufacturing costs Add: Work in process Inventory, 12/31/x0 Subtotal Less: Work-in-process Inventory, 12/31/x1 Cost of goods manufactured Superior Company Income Statement For the Year Ended December 31, 20X1 Sales Revenue Cost of goods sold: Gross Margin Selling and Administrative expense: Selling and Administrative salaries $13,700 Utilities for sales and administrative office $ 2,500 Other selling and administrative expenses $ 3,800 Depreciation on cars used by sales personnel $ 1,200 Rental of space for company presidents office $ 1,700 Total Income Before Taxes Income Tax Expense Net Income $ 22,900 $ 15,000 $ 5,100 $ 9,900 *Overhead applied = $58,000; *Actual MOH = $54,200 *Over applied MOH=$3,800 58.000 $ 175,200 $ 8.000 $183,200 $ 8,200 $ 175,000 27 28 29 30 31 32 cboot150 cboot151 choot15 Shoot 152 Shoot154 cboot155 cheet156 Shoot157 shoot150

А B C D E F F G H K 1 2 3 4 4 5 6 Superior Company Schedule of Cost of Goods Sold For the Year Ended December 31,20X1 Finished goods Inventory, 12/31/x0 14000 Add: Cost of goods manufactured =D28 Cost of goods available for sale =G5+G6 Less:Finished goods Inventory, 12/31/x1 15300 Unadjusted Cost of goods sold =G7-G8 Less: Overapplied overhead =C22 Adjusted cost of goods sold =G9-510 7 8 9 10 Superior Company Income Statement For the Year Ended December 31,20X1 Sales Revenue 207800 Cost of goods sold: =G11 Gross Margin =K5-K6 Selling and Administrative expense: Selling and Administrative salaries 13700 Utilities for sales and administrative office 2500 Other selling and administrative expenses 3800 Depreciation on cars used by sales personnel 1200 Rental of space for company presidents office 1700 Total =SUM(19:J13) Income Before Taxes =K7-K14 Income Tax Expense 5100 Net Income 1=K15-K16 =C8-C9 79000 Twisto Pretzel Company Schedule of Cost of Goods Manufactured For the Year Ended December 31,20X1 Direct Materials: Raw Material Inventory, 12/31/x0 10200 Add: Purchases of Raw Materials 39000 Total Raw Materials available =C6+C7 Less: Raw Material Inventory, 12/31/x1 11000 Raw Materials used Direct Labor Manufacturing overhead Indirect Material used 4600 Indirect Labor cost 29000 Insurance on factory and equipment 3600 Depreciation on factory equipment 2100 Depreciation on factory building 3400 Property taxes on factory 2400 Utilities for factory 6000 Rental of warehouse space to raw materials 3100 Total actual Manufacturing Overhead =SUM(C13:C20) Add: Over applied Work in process =D23-C21 Overhead applied to work in process Total Manufacturing costs Add: Work in process Inventory, 12/31/x0 Subtotal Less: Work-in-process Inventory, 12/31/x1 Cost of goods manufactured 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 *Overhead applied = $58,000; *Actual MOH = $54,200 *Over applied MOH=$3,800 58000 =SUM(D5:D23) 8000 =D24+D25 8200 =D26-D27 27 28 29 30 31 32 Chantin choot11 boot1 bet chant1 boot155 be cho abot

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