Clyde's Pets manufactures chewing bones for puppies. At the end of December 2008, his accounting records showed the following: Inventories Materials Work in process Finished goods Other information: Direct material purchases Plant janitorial service Sales salaries expense Delivery expense Sales revenue Beginning $13,500 Ending $9,000 1,250 5,700 $31,000 Utilities for plant 1,250 Rent on plant 5,000 Customer service hotline expense 1,500 Direct labour $4,500 9,000 1,000 18,000 105,000 Requirements: i) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2008 Prepare an income statement for Clyde's Pets for the year ended December 31, 2008 ii) iii) Given that the company manufactured 17,500 units, of its product in 2008, compute the company's unit product cost for the year.

Clyde's Pets manufactures chewing bones for puppies. At the end of December 2008, his accounting records showed the following: Inventories Materials Work in process Finished goods Other information: Direct material purchases Plant janitorial service Sales salaries expense Delivery expense Sales revenue Beginning $13,500 Ending $9,000 1,250 5,700 $31,000 Utilities for plant 1,250 Rent on plant 5,000 Customer service hotline expense 1,500 Direct labour $4,500 9,000 1,000 18,000 105,000 Requirements: i) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2008 Prepare an income statement for Clyde's Pets for the year ended December 31, 2008 ii) iii) Given that the company manufactured 17,500 units, of its product in 2008, compute the company's unit product cost for the year.

Name: Clyde's Pets manufactures chewing bones for puppies. At the end of De
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Description: Clyde's Pets manufactures chewing bones for puppies. At the end of December 2008,his accounting records showed the following:InventoriesBeginning$13,500Ending$9,000MaterialsWork in processFinished goodsOther information:Direct material purchasesPlan

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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