Natural BonesNatural Bones

manufactures its own brand of pet chew bones. At the end of

DecemberDecember

20182018,

the accounting records showed the following:

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(Click the icon to view the accounting records.) Read the requirements

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.Requirement 1. Prepare a schedule of cost of goods manufactured for

Natural BonesNatural Bones

for the year ended

DecemberDecember

3131,

20182018.

(For accounts with a $0 balance, make sure to enter "0" in the appropriate column.)

Natural Bones

Schedule of Cost of Goods Manufactured

Year Ended December 31, 2018

Beginning Direct Materials

Direct Materials Used:

Direct Labor

Direct Materials Used

Manufacturing Overhead:

Total Manufacturing Overhead

Total Manufacturing Costs Incurred during the Year

Total Manufacturing Costs to Account For

Cost of Goods Manufactured

Requirement 2. Prepare an income statement for

Natural BonesNatural Bones

for the year ended

DecemberDecember

3131,

20182018.

(For accounts with a $0 balance, make sure to enter "0" in the appropriate column.)

Natural Bones
Income Statement
Year Ended December 31, 2018
Revenue:
Cost of Goods Sold:
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

Natural BonesNatural Bones

differ from the income statement of a merchandiser?A manufacturer's cost of goods sold is based on its

cost of goods manufactured.

direct materials used.

manufacturing costs incurred during the year.

operating income.

In contrast, a merchandiser's cost of goods sold is based on its

ending inventory.

gross profit.

merchandise purchases.

operating income.

Requirement 4.

Natural BonesNatural Bones

manufactured

17 comma 30017,300

units of its product in

20182018.

Compute the company's unit product cost for the year, rounded to the nearest cent.

Cost per unit =

Choose from any list or enter any number in the input fields and then continue to the next question.

- X i Data Table Tioga Manufacturing Company June 30, 2018 Beginning 24,000 Direct Beginning Direct Materials 60,000 Purchases of Direct Materials 86,000 (23,000) Ending Direct Materials Direct Direct X 40,000 Manufacturing Overhead 178,000 Total Costs Total Costs (30,000) Ending Print Done June 30, 2018 Net Sales Revenue Cost of Goods Sold: Beginning 118,000 X X Cost of Goods X Ending 225,000 Cost of Goods Sold 235,000 Gross Profit Expenses: Selling Expenses 100,000 X Administrative Expenses 169,000 Total _Income - X i Data Table Tioga Manufacturing Company June 30, 2018 Beginning 24,000 Direct Beginning Direct Materials 60,000 Purchases of Direct Materials 86,000 (23,000) Ending Direct Materials Direct Direct X 40,000 Manufacturing Overhead 178,000 Total Costs Total Costs (30,000) Ending Print Done June 30, 2018 Net Sales Revenue Cost of Goods Sold: Beginning 118,000 X X Cost of Goods X Ending 225,000 Cost of Goods Sold 235,000 Gross Profit Expenses: Selling Expenses 100,000 X Administrative Expenses 169,000 Total _Income