Question: Answer submitted via excel, please! P16-36B Preparing a schedule of cost of goods manufactured and an income statement for a manufacturing company Chewy Bones manufactures
P16-36B Preparing a schedule of cost of goods manufactured and an income statement for a manufacturing company Chewy Bones manufactures its own brand of pet chew bones. At the end of Decem- ber 2018, the accounting records showed the following Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Other information: Direct materials purchases Plant janitorial services Sales salaries Delivery costs Net sales revenue Utilities for plant Rent on plant Customer service hotline costs Direct labor Beginning Ending $13,400 10,500 1,500 5,400 $ 39,000 900 5,100 1,700 115,000 1,200 9,000 1,600 16,000 Requirements 1. Prepare a schedule of cost of goods manufactured for Chewy Bones for the year ended December 31, 2018. 2. Prepare an income statement for Chewy Bones for the year ended December 31, 2018. 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 2018. Compute the company's unit product cost for the year, rounded to the nearest cent
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
