Required: 1. Prepare Taquitos To Go's schedule of cost of goods manufactured for 20x1. TAQUITOS TO GO Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20X1 Direct material: Raw-material inventory, 12/31/x0
Required: 1. Prepare Taquitos To Go's schedule of cost of goods manufactured for 20x1. TAQUITOS TO GO Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20X1 Direct material: Raw-material inventory, 12/31/x0
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 58P: Cost of Goods Manufactured, Income Statement W. W. Phillips Company produced 4,000 leather recliners...
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Transcribed Image Text:Required:
1. Prepare Taquitos To Go's schedule of cost of goods manufactured for 20x1.
Direct material:
Raw-material inventory, 12/31/x0
Raw material used
TAQUITOS TO GO
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 20X1
Direct labor
Manufacturing overhead:
Total actual manufacturing overhead
Overhead applied to work in process
Total manufacturing costs
Subtotal
Cost of goods manufactured
![Required information
PR 3-42 (Algo) Schedule of Cost of Goods Manufactured and Sold; Income Statement (LO 3-6)
[The following information applies to the questions displayed below.]
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
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
$ 7,900
13,600
3,600
8,100
14,000
8,000
4,300
2,100
10, 200
2,400
15,300
39,200
6,000
2,400
3,800
29,000
3,600
1,200
79,000
11,000
4,100
3,000
1,500
58,000
205,800
5,100](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0d6c740a-2a5c-4fa4-80ac-a2000d8c1591%2F76e33ae4-2cb2-483e-a57f-c68821bdb06f%2Fjwh6bmg_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
PR 3-42 (Algo) Schedule of Cost of Goods Manufactured and Sold; Income Statement (LO 3-6)
[The following information applies to the questions displayed below.]
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
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
$ 7,900
13,600
3,600
8,100
14,000
8,000
4,300
2,100
10, 200
2,400
15,300
39,200
6,000
2,400
3,800
29,000
3,600
1,200
79,000
11,000
4,100
3,000
1,500
58,000
205,800
5,100
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