Value-Stream Reporting with Inventory Decrease Rivera Manufacturing, Inc, has implemented lean manufocturing in its Kansas City plant as a pilot program, One of its value streams produces a family of smali electric tools. The value-stream team managers were quite excited about the results, as some of their efforts to eliminate waste were proving to be effective. During the most recent three weeks, the following data pertaining to the electric tool value stream were collected: Week l: Demand=110units545 Beginning inventory= 15 units \& $20 ( $5 materials and $15 conversien) Production 110 units using $300 of materials and $1,400 of conversion cost Week 2: Demande120units8$45 Beginning Inventory = 15 units \& $20 ( $5 materiais and $15 conversion) Productiont 110 units using $300 of materials and $1,400 of conversion cost Week 3 : Demand=110unitse$45 Beginning inventory =0 Production =120 units using $550 of materials and $1,700 of conversion cost Required: 1. Prepare a traditional income statement for each week 1. Prepare a traditional income statement for each week. 2. Calculate the average value-stream product cost for each week. If required, round your answers to the nearest cent. \begin{tabular}{lll} Week 1 & per unit \\ Week 2 \\ Week 3 & per unit \\ \hline \end{tabular} 3. Prepare a value-stream income statement for each week. Assume that any increase in inventory is valued at average cost. If an amount is zero, enter "O". Value-Stream Reporting with Inventory Decrease. Quera Manufacturing. Inc. has implemented lean manufacturing in its Kansas City plant as a pilot program. One of its value streams produces a family of small electric tools. The value-stream team managers were quite excited about the results, as some of their efforts to eliminate waste were proving to be effective. During the most recent three weeks, the following data pertaining to the electric tool value stream were collected: Week 1: Demand=110unitsa$45 Beginning inventory= 15 units 4$20 (\$5 materials and $15 conversion) Production 110 units using $300 of materials and $1,400 of conversion cost Week 2: Demand=120units2$45 Beginning inventory = 15 unts 0$20 ( $5 materiais and $15 conversion) Productiont 110 units using $300 of materiais and $1,400 of conversion cost week 3 : Demand =110 units 645 Beginning inventory =0 Production 120 units using $550 of materials and $1,700 of conversion cost Required: 1. Prepare a traditional income statement for each week. 1. Prepare a traditional income statement for each week. 2. Calculate the average value-stream product cost for each week, If required, round your answers to the nearest cent. Week 1 per unit Week 2 per unit Week 3 per unit 3. Prepare a value-stream income statement for each week, Assume that any increase in inventory is valued at average cost. If an amount is zero, enter "0