Question: Pls find attached question Various cost and sales data for Men'well Company for the justcompleted year, during which it produced 10,000 units, follow: Finished goodsinventory,
Pls find attached question
Various cost and sales data for Men'well Company for the justcompleted year, during which it produced 10,000 units, follow: Finished goodsinventory, beginning $ 35,000 Finished goods inventory, ending 70,000 Depreciation, factory 29,000 Administrative expenses 122,000 Utilities, factory 11,000 Maintenance, factory 85,000 Supplies, factory 13,000 Insurance, factory 5,600 Purchases of raw materials 140,000 Raw materials inventory, beginning 13,000 Raw materials inventory, ending 8,000 Direct labour 85,000 Indirect labour 13,500 Work-in-process inventory, beginning 22,000 Work-in-process inventory, ending 34,000 Sales 575,000 Selling expenses 84,000 Required: 1. Prepare a schedule of cost of goods manufactured. MERIWELL COMPANY Schedule of Cost of Goods Manufactured Raw materials available for use Raw materials used In production Manufacturing overhead Total overhead costs Total manufacturing costs Total work in process inventory -_ Cost of goods manufactured _ M ERIWELL COM PANY Income Statement For the Year Just Completed Cost ofgoods sold Goods available for sale Less operating expenses 3. What was the average cost per unit for direct materials and factory depreciation? (Round your answers to 2 decimal places.) Average Cost Direct materials per unit Factory depreciation i per unit 4-a. Assume that the company expects to produce 20,000 units of product during the coming year. What average cost per unit and what total cost would you expect the company to incur for direct materials at this level of activity? For factory depreciation? (In preparing your answer, assume that direct materials are a variable cost and that depreciation is a fixed cost; also, assume that depreciation is computed on a straight-line basis.) (Round your "Average Cost" answers to 2 decimal places.) Average Cost Total Cost Direct materials per unit Factory depreciation per unit 4-b. Would you expect the average production cost per unit to increase, decrease or stay the same as in the just-completed year? OIncrease ODecrease ORemain unchanged