Linkoln Company-Inventory Items: May Year 6 Raw Materials Components Pounds Beginning raw materials Purchased raw materials Ending raw materials WIP Components Labor hours budgeted Labor hours actual Wage rate/hour Budgeted overhead (Labor hours as cost driver) Beginning WIP Ending WIP FG Components Beginning finished goods Ending finished goods 1,650 Price/lb. $4.50 4,725 $5.00 1,470 $5.00 20,000 19,850 $ 9.00 $ 120,000 $ 49,500 $ 41,650 $ 63,200 $ 67,450 A production supervisor for Linkoln Company is comparing his budget to actuals for inventory components in May. He has asked you to prepare two documents which will be sent to the division finance officer. The first is a cost of goods manufactured statement which will require you to derive the individual components of total manufacturing costs. The second is a one-page analysis document which will highlight specific sensitivities and relative comparison points. Using the information included within the exhibit, complete the table below for the month ended May, Year 6. For Part I, calculate the required costs identified in column A, and enter your associated response rounded to whole numbers in column B. If a response is zero, enter a zero (0). For Part II, use the option list provided and enter your response in column B for each situation (Indicate Higher/Lower/No impact in the answer column).