Chapter 16, Problem 36BP

Chewy Bones manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the following:

Requirements

1. 1. Prepare a schedule of cost of goods manufactured for Chewy Bones for the year ended December 31, 2018.
2. 2. Prepare an income statement for Chewy Bones for the year ended December 31, 2018.
3. 3. How does the format of the income statement for Chewy Bones differ from the income statement of a merchandiser?
4. 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.