P-M:1-37B Preparing a schedule of cost of goods manufactured and an income statement for a manufacturing company (Learning Objective 3) Chewy Bones manufactures its own brand of pet chew bones. At the end of December 2024, the accounting records showed the following: Balances: Beginning Ending Direct Materials $13,400 $10,500 Work-in-Process Inventory 0 1,500 Finished Goods Inventory 0 5,400 Other information: Direct materials purchases $39,000 Plant janitorial services 900 Sales salaries 5,100 Delivery costs 1,700 Net sales revenue 115,000 Utilities for plant 1,200 Rent on plant 9,000 Customer service hotline costs 1,600 Direct labor 16,000

Requirements

1. Prepare a schedule of cost of goods manufactured for Chewy Bones for the year ended December 31, 2024.
2. Prepare an income statement for Chewy Bones for the year endedDecember 31, 2024.
3. How does the format of the income statement for Chewy Bones differ from the income statement of a merchandiser?
4. Chewy Bones manufactured 17,500 units of its product in 2024.Compute the company's unit product cost for the year, rounded to the nearest cent.