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Gourmet Bones manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the following (Click the icon
Gourmet 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 the accounting records.) 0 Data Table Read the requirements Requirement 1. Prepare a schedule of cost of goods manufactured for Gourmet Bo make sure to enter"0 Balances: Beginning Ending $ 13,500 $ 7,500 0 3,500 0 5,200 Direct Materials Work-in-Process Inventory Finished Goods Inventory Other information: Direct materials purchases Plant janitorial services Sales salaries Delivery costs $ 36,000 700 Gourmet Bones Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Inventory Direct Materials Used: Beginning Direct Materials 13,500 Purchases of Direct Materials 36,000 Direct Materials Available for Use 49,500 Ending Direct Materials 1,500 Direct Materials Used Direct Labor Manufacturing Overhead: 4 6.000 1,300 107.000 1,300 17.000 1,200 23,000 Net sales revenue Utilities for plant Rent on plant Customer service hotline costs 2 Direct labor Print Done Choose from any list or enter any number in the input fields and then continue to the next question Read the requirements Year Ended December 31, 2018 Beginning Work-in-Process Inventory Direct Materials Used: Beginning Direct Materials 13,500 Purchases of Direct Materials 36.000 Direct Materials Available for Use 49,500 Ending Direct Materials 1,500 Direct Materials Used Direct Labor Manufacturing Overhead: 42,000 23,000 19.000 84,000 Total Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For Canine Lineb in Denne munten: 84,000 (3.500) Choose from any list or enter any number in the input fields and then continue to the next question. Cost of Goods Manufactured 80,500 Requirement 2. Prepare an income statement for Gourmet Bones for the year ended December 31, 2018. (For accounts with a $0 balance, make sure to enter " Gourmet Bones Income Statement Year Ended December 31, 2018 Revenue: Cost of Goods Sold: Cost of Goods Sold Gross Profit Selling and Administrative Expenses: Choose from any list or enter any number in the input fields and then continue to the next question. Cost of Goods Sold Gross Profit Selling and Administrative Expenses: Total Selling and Administrative Expenses Operating Income Requirement 3. How does the format of the income statement for Gourmet 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. Gourmet Bones manufactured 17,900 units of its product in 2018. Compute the company's unit product cost for the year, rounded to the nearest cont. Cost per unit 4.50 Choose from any list or enter any number in the input fields and then continue to the next
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