Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 3,800 $399,000 75, 240 87,400 63,930 22,800 43,570 36,300 August 4,800 $504,000 95,040 110,400 71,930 28,800 47,570 36,300 September 5,000 $525,000 99,000 115,000 73,530 30,000 48,370 36,300 Required: What is the average price per unit sold? Average price per unit Selected account balances for the year ended December 31 are provided below for Superior Company: Selling and administrative salaries Insurance, factory Utilities, factory Purchases of raw materials Indirect labour Direct labour Advertising expense cleaning supplies, factory Sales commissions Rent, factory building Maintenance, factory $ 105,000 6,200 45,500 ? 62,000 95,900 77,200 7,400 50,500 116,000 30,000 Inventory balances at the beginning and end of the year were as follows: Raw materials Work in process Finished goods Beginning of the Year $50,000 ? 46,000 End of the Year $11,500 32,100 86,000 The total manufacturing costs for the year were $703,000, and the cost of goods sold totalled $664,000. SUPERIOR COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31 Direct materials: $ Raw materials inventory, beginning Add: Purchases of raw materials 50,000 301,500 351,500 11,500 Raw materials available for use Deduct: Raw materials inventory, ending Raw materials used in production $ 340,000 95,900 Direct labour Manufacturing overhead: Insurance, factory Utilities, factory 6,200 45,500 Indirect labour Cleaning supplies, factory Rent, factory building Maintenance, factory Total overhead costs 51,700 487,600 Total manufacturing costs Add: Work in process inventory, beginning Total work in process inventory 487,600 Add: Work in process inventory, beginning Total work in process inventory 487,600 Cost of goods manufactured 487,600