MANUFACTURING SOLVE AS SOON AS PLEASE ITS URGENT

The following selected account balances taken from ABC Company for the year ended December 31:

Inventory balances at the beginning and end of the year were as follows:

Required:

1. Prepare statement of cost of goods manufactured. (5 Marks)

2. Compute the average cost per unit for direct materials used and the average cost per unit for manufacturing overhead. (2 Marks)

3. Assume that in the following year the company expects to produce 212,500 units and manufacturing overhead is fixed. What average cost per unit and total cost would you expect to be incurred for direct materials? For manufacturing overhead? (2 Marks)

4. Explain the reason for any difference in average cost per unit between (b) and (c) above. (1 Mark)

Inventories Raw Material Work in process Finished Goods 1-Jan-20 31-Dec-20 50,000 40,000 30,000 40,000 0 ? 480,000 20,000 350,000 25,000 Costs 'Rs.' Purchased of Raw Materials Transportation on Materials Direct Labor Advertising Building Rent (Production uses 80% of the space, administration and sales office uses the rest Fixed Factory Utilities Fixed Factory Maintenance Factory depreciation is estimated at 10% on units produced Fixed selling and admin. Expenses Variable selling and admin. Expenses Other fixed indirect manufacturing costs Production Sales in units Ending finished goods in units Selling Price per unit in Rs. Units produced 90,000 30,000 15,000 17,000 70,000 40,000 36,000 150,000 20,000 90