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

Organic Bones

for the year ended

December

31,

2024.

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

Organic Bones
Schedule of Cost of Goods Manufactured
Year Ended December 31, 2024
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

Organic Bones

for the year ended

December

31,

2024.

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

Organic Bones
Income Statement
Year Ended December 31, 2024
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

Organic 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

ending inventory.

gross profit.

merchandise purchases.

operating income.

Requirement 4.

Organic Bones

manufactured

17,400

units of its product in

2024.

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

Cost per unit =

Data Table

Other information:
Direct materials purchases	$34,000
Plant janitorial services	400
Sales salaries	5,300
Delivery costs	2,000
Net sales revenue	105,000
Utilities for plant	1,100
Rent on plant	11,000
Customer service hotline costs	1,000
Direct labor	21,000

Balances:	Beginning	Ending
Direct Materials	$13,000	$6,000
Work-in-Process Inventory	0	2,500
Finished Goods Inventory	0	5,700