Fido treats its own brand of pet chew bones. At the end of december 2014, the accounting records showed the following:
Inventories Begining Ending
Raw Materials: 13,400 9,500
Work in Progress 0 2,000
Finished Goods 0 5,300
Other Information:
Raw Materials Purchases 33,000
Plant Janitoral Services 800
Sales Salaries 5,000
Delivery Costs 1,700
Sales Revenue 109,000
Utilities for Plant 1,600
Rent on Plant 13,000
Customer service hotline costs 1,400
Direct labor 22,000
1. Prepare a schedule of cost of goods maufactured for Fido Treats for the year ended December 31, 2014.
2. Prepare an income statement for Fido Treats for the year ended December 31, 2014.
3. How does the format of the income statement for Fido Treats differ from the income statement merchandise?
4. Fido Treats manufactured 18,075 units of its production in 2014. Compute the company's unit product cost for the year.