Foxwood Company is a metal- and woodcutting manufacturer selling products to the home-construction market. Consider the following data for 2017: Sandpaper Material Handling Costs Lubricants and coolants Miscellaneous indirect manufacturing labor Direct Manufacturing Labor Direct Materials Inventory, January 1, 2017 Direct Materials Inventory, December 31, 2017 Finished Goods Inventory, January 1, 2017 Finished Goods Inventory, December 31, 2017 Work in Process Inventory, January 1, 2017 Work in Process Inventory, December 31, 2017 Plant-leasing costs Depreciation - plant equipment Property taxes on plant equipment Fire insurance on plant equipment Direct Materials purchased Revenues Marketing promotions Marketing salaries Distribution costs Customer service costs $ 2,000 $ 70,000 $ 5,000 $ 40,000 $ 300,000 $ 40,000 $ 50,000 $ 100,000 $ 150,000 $ 10,000 $ 14,000 54,000 $ 36,000 $ 4,000 $ 3,000 $ 460,000 $ 1,360,000 $ 60,000 $ 100,000 $ 70,000 $ 100,000 1. Prepare an income statement with a separate supporting schedule of cost of goods manufactured. For all manufacturing items, classify costs as direct costs or indirect costs and indicate by V or F whether each is a variable cost or a fixed cost. 2. Suppose that both the direct material costs and the plant-leasing costs are for the production of 900,000 units. What is the direct material cost of each unit produced? What is the plant leasing cost per unit? 3. Suppose Foxwood Company manufactures 1,000,000 units next year. Repeat the computation in requirement 2 for direct materials and plant-leasing costs. Assume the implied cost-behavior patterns persist. 4. As a management consultant, explain concisely to the company president why the unit cost for direct materials did not change in requirements 2 and 3 but the unit cost for plant leasing costs did change