Nis question: 25 pts 1 of 4 (0 complete This Test: 100 pt Natural Bones manufactures…

The following solution is suggested to handle the subject “Nis question: 25 pts 1 of 4 (0 complete This Test: 100 pt Natural Bones manufactures…“. Let’s keep an eye on the content below!

Question “Nis question: 25 pts 1 of 4 (0 complete This Test: 100 pt Natural Bones manufactures…”

Nis question: 25 pts 1 of 4 (0 complete This Test: 100 pt Natural Bones manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the following: (Click the icon to view account balances.) !!! (Click the icon to view other information.) Read the requirements Requirement 1. Prepare a schedule of cost of goods manufactured for Natural Bones for the year ended December 31, 2018. (For accounts with a $0 balanco, sure to enter “O” in the appropriate column) Natural Bones Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Inventory Direct Materials Used: Choose from any list or enter any number in the input fields and then continue to the next question.

Jul. 20 pis 1 of 4 (0 complete This Test: 10 Natural Bones manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the following: (Click the icon to view account balances.) (Click the icon to view other information.) Read the requirements. Direct Materials Used Manufacturing Overhead: Total Manufacturing Overhead Choose from any list or enter any number in the input fields and then continue to the next question

Natural Bones manufactures its own brand of pet chew bones. At the end of December 2018, the accounting records showed the fo (Click the icon to view account balances.) (Click the icon to view other information.) Read the requirements. Total Manufacturing Overhead Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured Requirement 2. Prepare an income statement for Natural Bones for the year ended December 31, 2018. (For accounts with a $0 balar the appropriate column.) Natural Bones Choose from any list or enter any number in the input fields and then continue to the next question. O pe here to search

Read the requirements. Natural Bones Income Statement Year Ended December 31, 2018 Revenue: Cost of Goods Sold: Choose from any list or enter any number in the input fields and then continue to the next question.

Cost of Goods Sold Gross Profit Selling and Administrative Expenses: Choose from any list or enter any number in the input fields and then continue to the next question. be here to search O a

tal Selling and Administrative Expenses Operating Income Requirement 3. How does the format of the income statement for Natural Bones differ from the income statement of a merchandiser? A manufacturer’s cost of goods sold is based on its In contrast, a merchandiser’s cost of goods sold is based on its Requirement 4. Natural Bones manufactured 17,600 units of its product in 2018. Compute the company’s unit product cost for the year rounded to the nearest cent. Cost per unit – Choose from any list or enter any number in the input fields and then continue to the next question.

1 Data Table . Х enses Balances: cha hat of the in Direct Materials Work-in-Process Inventory Finished Goods Inventory Beginning Ending $ 13,300 $ 10,000 0 1.100 0 5,900 Hiser d is based fort Print Done nanufactured ] any number in the input fields and then continue to the next question.

10 1 of 4 (0 complete) le Other information: $ 31,000 Direct materials purchases Plant janitorial services Salestsalaries Delivery costs 400 Net sales revenue Utilities for plant Rent on plant Customer service hotline costs Direct labor 5,300 1,700 108,000 1,400 18,000 1,800 22,000 Print Done

Answer

3.

A manufacturing company will have different expenses categories than a merchandising business.

Reporting earnings is the same method for manufacturers and merchandisers.

This figure can be calculated by adding inventory at the beginning to inventory bought during the accounting period. Add the inventory at the end to the period and subtract freight charges. This is the cost of goods for a merchandiser.

Manufacturers divide the cost of goods into different categories. The first category includes manufacturing expenses. Also, the manufacturer must inventory goods-in progress. Manufacturers must also count the finished products that are ready for sale. In determining the costs related to the price of goods, manufacturers also consider the cost for manufacturing labour and overhead. This is very different from merchandisers, who don’t include labor in the cost-of goods figures.

A merchandiser defines expenses as the “cost of goods sold.” Manufacturers also refer to expenses as the “cost of goods made.”

The cost of goods
manufactured is used to calculate a manufacturer’s cost per unit of goods sold. A merchandiser’s cost to sell goods is determined by its merchandise purchases. The manufacturer’s cost to sell goods is determined by the cost of its goods manufactured. A merchandiser’s cost to sell goods is, however, determined by the merchandise it has purchased.

Conclusion

Above is the solution for “Nis question: 25 pts 1 of 4 (0 complete This Test: 100 pt Natural Bones manufactures…“. We hope that you find a good answer and gain the knowledge about this topic of business.