Fow of Costs and income statement: The machine requires cone hour per 125 theochers. Total complesed production was 500,000 unis eurng the year ther informitish is as followin: Number of ileather units sold in 20ar460,000 Wholesale price per unt In your computations, if required, round interim per unit costs to two decimal places. Required: 1. Prepare an annual income statement for the lLeather product. Feedlack 7 Check My Work 1. a. Calculate the sales revenue. b. Calculate the manufacturing cost per unit (direct and indirect costs). c. Assign all the manufacturing costs per unit to the number of units sold. 2. Determine the balances in the finished goods and work in process inventories for the ileather product on December 31,20Y3. Finished Goods Work in Process