i Requirements - 1. Prepare a schedule of cost of goods manufactured for Lasting Treats for...

  

Transcribed Image Text:

i Requirements - 1. Prepare a schedule of cost of goods manufactured for Lasting Treats for the year ended December 31, 2018. 2. Prepare an income statement for Lasting Treats for the year ended December 31, 2018. 3. How does the format of the income statement for Lasting Treats differ from the income statement of a merchandiser? 4. Lasting Treats manufactured 17,500 units of its product in 2018. Compute the company's unit product cost for the year, rounded to the nearest cent. Print Done X Lasting Treats manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the following: (Click the icon to view the accounting records.) Read the requirements. Requirement 1. Prepare a schedule of cost of goods manufactured for Lasting Treats for the year ended December 31, 2018. (For accounts with a $0 balance, make sure to enter "0" in the appropriate column.) Lasting Treats Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 Data Table - X 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 Balances: Beginning Ending Direct Materials $ 13,800 $ 10,000 Work-in-Process Inventory 0 3,000 Finished Goods Inventory 0 5,400 Other information: Direct materials purchases Plant janitorial services Sales salaries Delivery costs Net sales revenue Utilities for plant $ 30,000 500 5,000 1,900 111,000 1,500 Rent on plant 13,000 Customer service hotline costs 1,700 Direct labor 16,000 Print Done i Requirements - 1. Prepare a schedule of cost of goods manufactured for Lasting Treats for the year ended December 31, 2018. 2. Prepare an income statement for Lasting Treats for the year ended December 31, 2018. 3. How does the format of the income statement for Lasting Treats differ from the income statement of a merchandiser? 4. Lasting Treats manufactured 17,500 units of its product in 2018. Compute the company's unit product cost for the year, rounded to the nearest cent. Print Done X Lasting Treats manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the following: (Click the icon to view the accounting records.) Read the requirements. Requirement 1. Prepare a schedule of cost of goods manufactured for Lasting Treats for the year ended December 31, 2018. (For accounts with a $0 balance, make sure to enter "0" in the appropriate column.) Lasting Treats Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 Data Table - X 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 Balances: Beginning Ending Direct Materials $ 13,800 $ 10,000 Work-in-Process Inventory 0 3,000 Finished Goods Inventory 0 5,400 Other information: Direct materials purchases Plant janitorial services Sales salaries Delivery costs Net sales revenue Utilities for plant $ 30,000 500 5,000 1,900 111,000 1,500 Rent on plant 13,000 Customer service hotline costs 1,700 Direct labor 16,000 Print Done

Answer rating: 100% (QA)

To prepare the schedule of cost of goods manufactured for Lasting Treats for the year ended December ... View the full answer