manufactures its own brand of pet chew bones. At the end of December 2024​,the accounting records showed the​ following: Data Table Balances: Beginning Ending Direct Materials $13,800 $8,500 Work-in-Process Inventory 0 2,500 Finished Goods Inventory 0 5,500 Data Table Other information:   Direct materials purchases $35,000 Plant janitorial services 400 Sales salaries 5,600 Delivery costs 1,700 Net sales revenue 109,000 Utilities for plant 1,700 Rent on plant 14,000 Customer service hotline costs 1,600 Direct labor 24,000 Requirement 1. Prepare a schedule of cost of goods manufactured for Yum Yum Treats for the year ended December 31​, 2024. ​(For accounts with a​ $0 balance, make sure to enter​ "0" in the appropriate​ column.)   Yum Yum Treats 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         Requirements 1. Prepare a schedule of cost of goods manufactured for Yum Yum Treats for the year ended December 31​, 2024. 2. Prepare an income statement for Yum Yum Treats for the year ended December 31​, 2024. 3. How does the format of the income statement for Yum Yum Treats differ from the income statement of a​ merchandiser? 4. Yum Yum Treats manufactured 17,200 units of its product in 2024. Compute the​ company's unit product cost for the​ year, rounded to the nearest cent.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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manufactures its own brand of pet chew bones. At the end of December 2024​,the accounting records showed the​ following:

Data Table
Balances:
Beginning
Ending
Direct Materials
$13,800
$8,500
Work-in-Process Inventory
0
2,500
Finished Goods Inventory
0
5,500
Data Table
Other information:
 
Direct materials purchases
$35,000
Plant janitorial services
400
Sales salaries
5,600
Delivery costs
1,700
Net sales revenue
109,000
Utilities for plant
1,700
Rent on plant
14,000
Customer service hotline costs
1,600
Direct labor
24,000
Requirement 1. Prepare a schedule of cost of goods manufactured for
Yum Yum Treats
for the year ended
December
31​,
2024.
​(For accounts with a​ $0 balance, make sure to enter​ "0" in the appropriate​ column.)
 
Yum Yum Treats
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
 
 
 
 
Requirements
1.
Prepare a schedule of cost of goods manufactured for
Yum Yum Treats
for the year ended
December
31​,
2024.
2.
Prepare an income statement for
Yum Yum Treats
for the year ended
December
31​,
2024.
3.
How does the format of the income statement for
Yum Yum Treats
differ from the income statement of a​ merchandiser?
4.
Yum Yum Treats
manufactured
17,200
units of its product in
2024.
Compute the​ company's unit product cost for the​ year, rounded to the nearest cent.
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