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Can you please help answer the following questions on account analysis method? Exercise 3 Account analysis method Graywork, Inc., a manufacturer of plastic products. reports

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Can you please help answer the following questions on account analysis method?

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Exercise 3 Account analysis method Graywork, Inc., a manufacturer of plastic products. reports the Following manufacturing costs and account analysis classification for the year ended December 31, 20151 Direct materials All variable $330,000 Direct manufacturing labor Allvariabie 24?,500 Power All variable 41,250 Supervision labor 20% variable 61.875 Materials-handling labor 50% variable 66,000 Maintenance labor 40% variable 82,500 Depreciation 0% variable 1 04,500 Rent, property taxes, and administration 0% variable 1 1 0,000 Graywork, Inc., produced 82,500 units of product in 201 5. Graywork's management is esljmating costs for 201 6 on the basis of 2015 numbers. The following additionai information is available for 2016. a. Direct materials prices in 2016 are expected to increase by 5% compared with 2015. b. Under the terms of the labor contract, direct manufacturing labor wage rates are expected to increase by 1 0% in 2016 compared with 201 5. c- Power rates and wage rates for supervision, materials handling, and maintenance are not expected to change from 2015 to 2016. d. Depreciation costs are expected to increase by 5%, and rent, property taxes, and administration costs are expected to increase by T%. e. Graywork expects to manufacture and sell 80,000 units in 2016. Requirement: 1. Prepare a schedule ofvariable. xed, and total manufacturing costs for each account category in 2016. Estimate total manufacturing costs for em 6. Submit your final answer in the textbox below. You mayr present your workings here or in a separate spreadsheet. Any external workings should be clearlyr labelled as 'Homework Two, Exercise 3.1' and uploaded in the Homework Two submission area along with this PDF.

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