![Required information [The following information applies to the questions displayed below.] The following data refer to Twisto](http://img.homeworklib.com/questions/536d8330-1042-11eb-b7e9-abc603ea2240.png?x-oss-process=image/resize,w_560)
Answers
Solution:
| TWISTO PRETZEL COMPANY | ||
| Schedule of cost of goods manufactured | ||
| For the year ended december31 ,20x1 | ||
| Direct material | ||
| Raw material inventory , 31/12/20x0 | 10,100 | |
| Add: Purchases of raw materials | 39,200 | |
| Raw mateials available for use | 49,300 | |
| Deduct raw material inventory, 31/12/20x1 | 11,000 | |
| Raw materials used | 38,300 | |
| Direct labour | 79,000 | |
| Manufacturing overhead | ||
| Indirect materials | 4,600 | |
| Indirect labour | 29,000 | |
| Depreciation on factory building | 3,800 | |
| Depreciation on factory equipment | 2,100 | |
| Utilities | 6,000 | |
| Property taxes | 2,400 | |
| Insurance | 3,600 | |
| Rental of warehouse space | 3,000 | |
| Total actual manufacturing overhead | 54,500 | |
| Add: Overapplied overhead | 3,500 | |
| Overhead applied to work in process | 58,000 | |
| Total manufacturing costs | 1,75,300 | |
| Add: Work in process inventory, 31/12/00 | 8,100 | |
| Subtotal | 1,83,400 | |
| Less: Work in process inventory 31/12/01 | 8,300 | |
| Cost of goods manufactured | 1,75,100 |
| TWISTO PRETZEL COMPANY | |
| Schedule of cost of goods sold | |
| For the year ended december31 ,20x1 | |
| Finished goods inventory 31/12/x0 | 14,000 |
| Add: cost of goods manufactured | 1,75,100 |
| Cost of goods available for sale | 1,89,100 |
| Deduct: Finished goods inventory, 31/12/01 | 15,300 |
| Cost of goods sold | 1,73,800 |
| Deduct: Overapplied overhead | 3,500 |
| Adjusted Cost of goods sold | 1,70,300 |
| TWISTO PRETZEL COMPANY | ||
| Income statement | ||
| For the year ended december31 ,20x1 | ||
| Sales revenue | 2,05,800 | |
| Less: cost of goods sold | 1,70,300 | |
| Gross margin | 35,500 | |
| Selling and administrative expenses | ||
| Salaries | 13,600 | |
| Utilities | 2,400 | |
| Depreciation | 1,200 | |
| Rental of office space | 1,600 | |
| Other expenses | 3,800 | |
| Total | 22,600 | |
| Income before taxes | 12,900 | |
| Income tax expenses | 5,100 | |
| Net Income | 7,800 |
Similar Solved Questions
1 answer
A symmetric truss system is subjected to a concentrated vertical force P at joint B as...
A symmetric truss system is subjected to a concentrated vertical force P at joint B as shown in Figure Q6. By using energy method, determine the horizontal displacement of joint C. EA is assumed as constant for all members, L is the length of member AB. D A С 450 450 B L Figure Q6...
1 answer
Suppose we observe the following rates: 1R1 = 6.8%, 1R2 = 7.8%, and E(2r1) = 6.8%....
Suppose we observe the following rates: 1R1 = 6.8%, 1R2 = 7.8%, and E(2r1) = 6.8%. If the liquidity premium theory of the term structure of interest rates holds, what is the liquidity premium for year 2? (Round your intermediate calculations to 5 decimal places and final answer to 2 decimal places. ...
1 answer
You have accumulated some money for your retirement. You are going to withdraw $80,868 every year...
You have accumulated some money for your retirement. You are going to withdraw $80,868 every year at the end of the year for the next 20 years. How much money have you accumulated for your retirement? Your account pays you 7.47 percent per year, compounded annually. To answer this question, you have...
2 answers
For Python: A prime number is defined as an integer greater than 1 that has no...
For Python: A prime number is defined as an integer greater than 1 that has no positive divisors other than 1 and itself. Write a program that prompts the user for an integer > 1. Validate the value is > 1 (if not, ask for another). Use a loop to determine if the number is prime or not. Issue ...
1 answer
Assume the car can be purchased for 0% down for 60 months (in lieu of rebate)....
Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A BMW that has a sticker price of $62,430 with factory and dealer rebates of $6,000 (a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.) $ 46.64 Incorrect: Your answer...
1 answer
Answer both please 3. (10 pts.) One often forgets the curl has a physical meaning. The...
answer both please 3. (10 pts.) One often forgets the curl has a physical meaning. The curl operator differs from the divergence field to produce another field. Since vectors are more operator in that it acts on a_ complicated than scalars it is important to understand the purpose of the curl operat...
1 answer
4. What is the function of each component of the CRISPR-Cas9 system? (1.5 pt) PAM site:...
4. What is the function of each component of the CRISPR-Cas9 system? (1.5 pt) PAM site: Guide RNA: Cas9: 5a. In the DNA below, the "I" line indicates where there is a mutation in a gene. Design a gRNA to find this mutation. Your gRNA will be 8 bases long and will not include the PAM sequence...
1 answer
Sketch a graph of the pressure of gas versus the volume of gas.
Sketch a graph of the pressure of gas versus the volume of gas. 2 Discuss how well your pressure readings support Boyle's law. You may find it helpful to refer to the introduction to this lab activity. 3 The solubility of CO2 at 25°C is 0.145 g in 100 mL. Assuming the solubility of...
1 answer
Need Help with Link Layer homework problem
Q5.14) In this problem you will derive the efficiency of a CSMA/CDlike multiple access protocol. In this protocol time is slotted andall adapters are synchronised tothe slots. Unlike slotted ALOHA,however, the length of a a slot (in seconds) is much less than aframe time (the time to transmit a fram...
1 answer
Calculate the coulombic force of attraction between Ca^2+ and O^2- in CaO, which has the NaCl-type...
Calculate the coulombic force of attraction between Ca^2+ and O^2- in CaO, which has the NaCl-type structure. Express your answer to three significant figures....
1 answer
Q2 The coefficient of determination of a set of data points is 0.577 and the slope...
Q2 The coefficient of determination of a set of data points is 0.577 and the slope of the regression line is What is the linear correlation coefficient? r (Round to three decimal places as needed.) 3.48. Determine the linear correlation coefficient of the data....
1 answer
A 2.0 m length of string with a mass density of 2.95 x 10^-4 kg/m is...
a 2.0 m length of string with a mass density of 2.95 x 10^-4 kg/m is fixed at both ends and driven at 120 Hz. The tension is varied to obtain standing waves (resonance) on the string. 1. what is the longest wavelength for a standing wave possible on the string? 2. the tension on the string is varies...
1 answer
Irk 7 - Chapter 11 gnment: Homework 7 - Chapter 11 Assignment Score: 0.00% Save Submit...
irk 7 - Chapter 11 gnment: Homework 7 - Chapter 11 Assignment Score: 0.00% Save Submit Assignment for Grading stions Problem 11.20 (NPV) Question 6 of 6 Check My Work (3 remaining) eBook A project has annual cash flows of $7,500 for the next 10 years and then $5,500 each year for the following 10 ye...
1 answer
15. 17 and 21) (References Scoring: Your score will be based on the number of correct...
15. 17 and 21) (References Scoring: Your score will be based on the number of correct matches minus the number of incorrect m Use the References to access important values if needed for Arrange the following compounds in order of increasing boiling points. Clear All CH3-CH-CH2-CH2-CH lowest boiling ...
1 answer
What are some issues to consider when using face validity? What are some potential pitfalls to...
What are some issues to consider when using face validity? What are some potential pitfalls to avoid, and how would you avoid them? Give a couple examples...