me cost, Conversion Cost. Preparation of Income Statement: Manufacturing Firm Kildeer Company makes easels for artists. During the last calendar year, a total of 24,000 easels were made, and 25,000 were sold for $60 each. The Direct materials $13.00 Direct labor 6.00 Variable overhead 11.00 Fixed overhead 15.00 Total unit cost $45.00 The selling expenses consisted of a commission of $1.00 per unit sold and advertising co-payments totaling 594,000. Administrative expenses, all from were no beginning and ending work-in-process inventories, Beginning finished goods inventory was $139,500 for 3,100 easels. Required: 1. Calculate the number and the dollar value of easels in ending finished goods inventory, Ending units 2,100 Dollar amount 94,500 2. Prepare a cost of goods sold statement Kildeer Company Statement of Cost of Goods Sold For the Year Ended December 31 Cost of goods manufactured Addr Beginning finished goods inventory Cost of goods available for sale tess: Ending finished goods inventory Cost of goods sold X 325.000 x 225.000 150,000 X 1125.000 Feedback Check My Work 2. See Example Prepare an absorption-costing income statement. In addition to dollar amounts, enter the amounts as a percent, rounded to two decimal places. For example, -5