rand of pet chew bones. At the end of December 2018,the accounting records showed the following:

GIVEN INFORMATION

Read the requirements

Requirement 1. Prepare a schedule of cost of goods manufactured for Natural Bones for the year ended December 31, 2018.

(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
Direct Materials Used:
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 Bones for the year ended December 31,2018.

(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 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 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.

Cost per unit =

- X iData Table Balances: Beginning Ending Direct Materials 13,200 $ 10,000 Work-in-Process Inventory 0 2,500 Finished Goods Inventory 0 6,100 Other information $ 31,000 Direct materials purchases Plant janitorial services 600 Sales salaries 5,000 Delivery costs 1,400 Net sales revenue 110,000 Utilities for plant 2,000 Rent on plant 11,000 Customer service hotline costs 1,700 22,000 Direct labor