Question

Score: 0 of 23 pts 4 of 4 (0 completej HW Score: 0%, 00 P18-36B (similar to) Question Help Yummy Treats manufactures its own brand of pet chew bones. At the end of December 2018. The accounting records showed the following E: (Click the icon to the accounting records) Read the requirements Requirement 1. Prepare a schedule of cost of goods manufactured for Yummy Treats for the year ended December 31, 2018 For accounts with a 50 hence make sure to enter in the appropriate column) Yummy Treats Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 Direct Materials Used Manufacturing Ovemad Choose from any list of enter any number in the input fields and then click Check Aiswer 3 m in anch

Answer 1

Statement showing cost of Goods Manufactured
Particulars	Amount	Amount
Direct Materials Used
Beg Inventory	$13,000.00
Add : Cost of Materials Purchased	$30,000.00
Total Raw Materials Available	$43,000.00
Less : Ending Raw Materials Inventory	-$8,500.00
Total Raw Materials Used		$34,500.00
Direct Labour		$18,000.00
Manufacturing Overheads
Total Manufacturing Costs		$52,500.00
Less : Ending WIP		-$1,000.00
Cost of Goods Manufactured		$51,500.00
Income Statement
Particulars	Amount	Amount
Net Sales Revenue		$109,000.00
Cost of Goods Sold
Beginning Finished Inventory	$0.00
Cost of Goods Manufactured	$51,500.00
Total Goods available for sale	$51,500.00
Less : Ending Finised Goods Inventory	-$5,900.00
Cost of Goods Sold		-$45,600.00
Gross Profit		$63,400.00
Operating Expenses
Less: Selling Expenses
Sales Salaries	$5,300.00
Customer Service Hotline Costs	$1,400.00
Delivery Costs	$1,600.00
Total Selling Expenses		-$8,300.00
Less: Administrative Expenses
Plant Janitorial Expenses	$300.00
Utilities for Plant	$1,500.00
Rent on Plant	$15,000.00
Total Administrative Expenses		-$16,800.00
Income from Operations		$38,300.00

3. Cost of goods sold is based on cost of Goods manufactured in case of manufacturer , However in case of Merchandiser cost of goods sold is based on on merchandies purchased.

4. Unit Product cost = Cost of Goods Manufactured/ No. of Unit produced

$51500/17600= $2.93