2) What is the average cost of goods manufactured per unit in 2016?

3) What is the total Cost of Goods solid in 2016?

Mutt Butter is an emerging company that manufactures and sells peanut butter treats for dogs. Mutt Butter includes two ingredients: peanut butter, and added nutrient powder. The ratio of Peanut Butter to nutrient powder is 2:1. To make Mutt Butter, the ingredients are mixed in a food processor. Mutt Butter is packaged in 1.5 oz single-serve cups. Julia is the chef of Mutt Butter and her only role is to make the Mutt Butter. Mutt Butter is made in a commercial kitchen that Mutt Butter rents for a contracted 25 days a year at a rate of $3,750 per year. That rent includes the utilities and use of the food processor and packaging equipment. The kitchen facility will also store any packaged Mutt Butter and ingredients for free (up to 5,000 1.5 oz cups). Mutt Butter did one production run in 2015. The Ending Balance of inventory at the end of 2015 was as follows: Item Ending Amount Ending Balance ($) 200 oz. $200 Peanut Butter Nutrient Powder 1.5 Oz Cups (with lids) 400 oz. $500 $50 500 $546 Mutt Butter in Process 150 x 1.5 oz. Servings Finished Mutt Butter (in cups) 50 x 1.5 oz. Servings $182 In 2016, Mutt Butter produced 3000 units of Mutt Butter and sold 2,500 units of them (3,750 oz.). Mutt Butter uses a LIFO inventory system. The net revenue from the sales was $12,500. During 2016, Mutt Butter incurred the following expenses: Item Expense ($) Wages to Julia for Production $2.000 Rent for the Kitchen $3,750 Purchase Peanut Butter $3,400 Purchase Nutrient Powder $1.875 Purchase 1.5 oz. Cups (with lids) $350 Delivery Expenses (Shipping) $500 Advertising Expenses $250 Other General and Administrative $200 Expenses The ending balance at the end of 2016 was as follows: Item Ending Amount Ending Balance ($) Peanut Butter 600 oz. $600 Nutrient Powder 400 oz. $500 1.5 Oz Cups (with lids) 1.000 $100 Mutt Butter in Process 150 x 1.5 oz. $546 servings Finished Mutt Butter (in 550 x 1.5 oz. $2,003 cups) servings Please answer the following questions assuming that Mutt Butter uses Full Absorption costing unless specified otherwise