Lasting Treats manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the following:

1. Prepare a schedule of cost of goods manufactured for Lasting Treats for the year ended December 31, 2018. (For accounts with a $0 balance, make sure to enter "0" in the appropriate column.)

2. Prepare an income statement for Lasting Treats for the year ended December 31, 2018. (For accounts with a 50 balance, make sure to enter "0" in the appropriate column.)

3. How does the format of the income statement for Lasting Treats 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 _______.

4. Lasting Treats manufactured 17,100 units of its product in 2018. Compute the company's unit product cost for the year, rounded to the nearest cent

Cost per unit = ?

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