Organic Bones manufactures its own brand of pet chew bones
Organic Bones manufactures its own brand of pet chew bones. At the end of December 2016, the accounting records showed the following:
Requirements
1. Prepare a schedule of cost of goods manufactured for Organic Bones for the year ended December 31, 2016.
2. Prepare an income statement for Organic Bones for the year ended December 31, 2016.
3. How does the format of the income statement for Organic Bones differ from the income statement of a merchandiser?
4. Organic Bones manufactured 17,400 units of its product in 2016. Compute the company’s unit product cost for the year, rounded to the nearest cent.
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