Using a spreadsheet and based on the information provided in the next section, complete the following requirements.

Determine the predetermined overhead rate.

Determine the total number of drones to account for.

Prepare an equivalent unit's schedule. The schedule should follow the format above.

Determine the started and completed units by using the following formula:

Started $-$ Ending $=$ Completed and Transferred Out $-$ Beginning

Calculate the total cost of aluminum and the cost per equivalent unit for the direct material aluminum.

Calculate the total cost and the cost per equivalent unit for the direct materials motor and propellers.

Determine the total conversion cost by using the predetermined rate and the direct labor rate. Then determine the conversion cost per drone.

Determine the unit cost per drone $($Material cost per unit plus Conversion Cost per unit$).$

Prepare a Cost of Production report. This report should show all costs transferred into Work$-$inProcess and the costs transferred to Finished Goods $($COGM$)$ by using the Equivalent Units Schedule. This process uses FIFO costing.

Determine the amounts for the following.

a$)$ Ending Work$-$in$-$Process Inventory in Units AND Dollars

b$)$ Ending Finished Goods Inventory in Units AND Dollars

c$)$ Cost of Goods Sold

d$)$ Over$/$Under Applied Manufacturing Overhead

e$)$ Show and calculate an Income Statement

f$)$ Gross Profit