Chewy Bones manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the following: (Click the icon to view account balances.) (Click the icon to view other information.) Read the requirements. Requirement 1. Prepare a schedule of cost of goods manufactured for Chewy Bones for the year ended December 31, 2018. (For accounts with a $0 balance, make sure to enter "0" in the appropriate column.) Chewy Bones Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 Direct Materials Used: Direct Materials Used Manufacturing Overhead: Total Manufacturing Overhead Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured Requirement 2. Prepare an income statement for Chewy Bones for the year ended December 31, 2018. (For accounts with a $0 balance, make sure to enter "0" in the appropriate column.) Chewy Bones Income Statement Year Ended December 31, 2018 Revenue: Cost of Goods Sold: Cost of Goods Sold Gross Profit Selling and Administrative Expenses: Selling and Administrative Expenses: Total Selling and Administrative Expenses Operating Income Requirement 3. How does the format of the income statement for Chewy Bones differ from the income statement of a merchandiser? A manufacturer's cost of goods sold is based on its In contrast, a merchandiser's cost of goods sold is based on its Requirement 4. Chewy Bones manufactured 17,30 unit product cost for the year, rounded to the nearest cent. cost of goods manufactured. Cost per unit = direct materials used. Choose from any list or enter any number in the i manufacturing costs incurred during the year. operating income. Requirement 3. How does the format of the income statement for Chewy Bones differ from the income statement of a merchandiser? A manufacturer's cost of goods sold is based on its In contrast, a merchandiser's cost of goods sold is based on its Requirement 4. Chewy Bones manufactured 17,300 units of its product in 2018. Compute the company's unit product cost for the year, rounded to the nearest cent ending inventory. Cost per unit = gross profit. merchandise purchases. Choose from any list or enter any number in the input fields and then continue to the next question. operating income. Balances: Beginning Ending $ 13,900 $ 6,000 Direct Materials $ Work-in-Process Inventory 0 4,000 Finished Goods Inventory 0 5,000 1. Prepare a schedule of cost of goods manufactured for Chewy Bones for the year ended December 31, 2018. 2. Prepare an income statement for Chewy Bones for the year ended December 31, 2018. 3. How does the format of the income statement for Chewy Bones differ from the income statement of a merchandiser? 4. Chewy Bones manufactured 17,300 units of its product in 2018. Compute the company's unit product cost for the year, rounded to the nearest cent. Other information: Direct materials purchases Plant janitorial services $ $ 37,000 200 Sales salaries 5,400 1,500 106,000 Delivery costs Net sales revenue Utilities for plant Rent on plant Customer service hotline costs 1,500 13,000 1,800 Direct labor 25,000 1. Prepare a schedule of cost of goods manufactured for Chewy Bones for the year ended December 31, 2018. 2. Prepare an income statement for Chewy Bones for the year ended December 31, 2018. 3. How does the format of the income statement for Chewy Bones differ from the income statement of a merchandiser? 4. Chewy Bones manufactured 17,300 units of its product in 2018. Compute the company's unit product cost for the year, rounded to the nearest cent
