The following data refer to Twisto Pretzel Company for the year 20x 1.

Work-In-process inventory, 12/31/x0 .............................................$ 8,100

Selling and administrative salaries ................................................. 13,800

Insurance on factory and equipment .............................................. 3,600

Work-In-process inventory, 12/31/x1 .............................................. 8,300

Finished-goods inventory, 12/31/x0 .............................................. 14,000

Cash balance, 12/31/x1 ..................................................................... 6,000

Indirect material used ....................................................................... 4,900

Depreciation on factory equipment ............................................... 2,100

Raw-material inventory. 12/31/x0 ................................................ 10,100

Property taxes on factory ............................................................... 2,400

Finished-goods inventory, 12/31/x1 ............................................ 15,400

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 ................................ 4,000

billed-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/xl ...................................................... 4,100

Rental for warehouse space to store raw material ................... 3,100

Rental of space for company president’s office ........................ 1.700

Applied manufacturing overhead ............................................ 58.000

Sales revenue .............................................................................205,800

Income tax expense ...................................................................... 5,100

Required:

1. Prepare Twisto Pretzel Company’s schedule of cost of goods manufactured for 20x 1.

2. Prepare the company’s schedule of cost of goods sold for 20x1. The company closes over applied or under applied overhead into Cost of Goods Sold.

3. Prepare the company’s income statement for 20x1.