Hamwey, Inc., a manufacturer of plastic products, reports the following manufacturing costs and account analysis classification for the year ended December 31 2012 Hamwey, Inc., produced 80,000 units of product in 2012. Hamwey's management is estimating costs for 2013 on the basis of 2012 numbers. The following additional information is available for 2013 1. Prepare a schedule of variable, fixed, and total manufacturing costs for each account category in 2013. Estimate total manufacturing costs for 2013 2 Calculate Hamwey's total manufacturing cost per unit in 2012, and estimate total manufacturing cost per unit in 2013. 3. How can you obtain better estimates of fixed and variable costs? Why would these better estimates be useful to Hamwey? More Info Direct materials Direct manufacturing labor Power Supervision labor All variable All variable All variable 20% variable 40% variable 45% variable 096 variable 0% variable 320,000 240,000 40,000 68.000 60,000 80,000 105,000 90,000 a. Direct materials prices in 2013 are expected to increase by 8% compared with 2012 b. Under the terms of the labor contract, direct manufacturing labor wage rates are expected to increase c. Power rates and wage rates for supervision, materials handling, and maintenance are not expected to d. Depreciation costs are expected to increase by 8%, and rent, property taxes and administration costs e. Hamwey expects to manufacture and sell 90,000 units in 2013. by 8% in 2013 compared with 2012 change from 2012 to 2013 are expected to increase by 7% Maintenance labor Rent, property taxes, and administration Print Done Requirement 1. Prepare a schedule of variable, fixed, and total manufacturing costs for each account category in 2013. Estimate total manufacturing costs for 2013 To assist you, begin by selecting the formula to calculate the variable cost for each account in 2013 2012 2013 Variable unit )r ) x cost in 2013 Fbed % of cost % increase Total cost Total units prod Variable % of cost Fbed % of cost % increase Total cost Total units prod Variable % of cost Fbed % of cost % increase Total cost Total units prod Variable % of cost Fbed % of cost % increase Total cost Total units prod Variable % of cost