21 Various cost and sales data for Meriwell Company for the just completed year, during which it produced 10,000 units, follow 5 Ints eBook Print Finished goods inventory, beginning Finished goods inventory, ending Depreciation, factory Administrative expenses Utilities, factory Maintenance, factory Supplies, factory Insurance, factory Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Direct labour Indirect labour Work-in-process inventory, beginning Work-in-process inventory, ending Sales Selling expenses $ 23,600 46,000 15,000 107,000 11,000 49,000 11.000 3,200 128,000 7,000 6,000 73,000 17,000 20,000 22,000 515,000 72,000 References Required: 1. Prepare a schedule of cost of goods manufactured MERIWELL COMPANY 2. Prepare an income statement. MERIWELL COMPANY Income Statement For the Year Just Completed Cost of goods 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.) Direct materials Factory depreciation Average cost per unit per unit 4-0. 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.) Total cost Direct materials Factory depreciation Average Cost per unit per unit