Hello, can someone please help me. I'm new to accounting and i'm having lots of trouble with this question. if you know, i would really appreciate your help.
Problem 2- 7 Preparing Financial Statements ; Cost Behaviour ( LOT - CC1 ; LO5 - CC9, 10; 106 - CC 1 1 , 12 ) Various cost and sales data for Meriwell Company for the just-completed year follow ! Finished goods inventory , beginning $ 36,000 Finished goods inventory , ending 72, 000 Depreciation , factory 21, 000 Administrative expenses 123, 000 Utilities , factory* 12, 000 Maintenance , factory $8, 000 Supplies , factory 13, 000 Insurance , factory 5, 6.00 Purchases of raw materials 141, 000 Raw materials inventory , beginning 14, 0:00 Raw materials inventory , ending 8,000 Direct labour $.5, 000 Indirect labour 13, 000 Work - in- process inventory , beginning 23, 000 Work - in - process inventory , ending 35, 000 Sales 50.0, 000 Selling Expenses $5, 000Required :` 1. Prepare a schedule of cost of goods manufactured . MERIWELL COMPANY* Schedule of Cost of Goods Manufactured For the Year Just Completed Direct materials* Raw materials available for USE Raw materials used in production Manufacturing overhead ! Total overhead costs Total manufacturing costs Cost of goods manufactured2. Prepare an income statement. Cost of goods sold: Goods available for sale Leas operating expenses: 3. Assume that the company produced the equivalent of 10,009 units of pro-duct during the 1pear just completed. What was the average cost per unit for direct materials and factory:r depreciation? {Round your answers 2 to decimal places.) Famwdemaan - Assume that the company expects to produce 15, 000 units of product during the coming year ."What average cost per unit and what total cost would you expect the company to incur for direct materials at this level of activity ? For factory depreciation ? I'm preparing your answer , assume that direct materials are a variable cost and that depreciation is a fixed cost ; also , assume that depreciation is computed on {\\ straight - line basis . ! ( Round your " Average Cost" answers ? to decimal places .! Average Cost Total Cost Direct materials per unit Factory depreciation per unit