million Requirements 1. Show how to compute cost of goods manufactured. Use the following amounts: direct materials used ($30,000), direct labor ($17,000), manufacturing overhead ($15,000), beginning work in process inventory ($2,000), and ending work in process inventory (S8,000) 2. Chicago Auto spent $80 million in total to produce 10,000 cars this year. The $80 million breaks down as follows: The company spent $10 million on fixed costs to run its manufacturing plants and $7,000 of variable costs to produce each car. Next year, it plans to produce 15.000 cars using the existing production facilities. Read the requirements related to Chicago Auto. -------------- Requirements (Chicago Auto) Determine the formula, then calculate the current average product cost per unit. (Enter your answer to the nearest dollar) Total costs 1 Current year's number of units = Current average product cost a. What is the current average product cost per car this year? 80 1 10,000 cars 8.000 per car b. Assuming there is no change in fixed costs or variable costs per unit, what is Requirement 2b. Assuming there is no change in fixed costs or variable costs per unit, what is the total forecasted cost to produce 15.000 cars next year? the total forecasted cost to produce 15,000 cars next year? c. What is the forecasted average product cost per car next year? Determine the formula, then calculate the total forecasted costs. d. Why does the average product cost per car vary between years? Forecasted total fixed costs Forecasted total variable costs = Total forecasted costs 10 million + 105 million 115 million Print Done Requirement 2c. What is the forecasted average product cosi per car next year? Determine the formula, then calculate the forecasted average product cost per unit. (Round your answer to the nearest whole dollar.) Total forecasted costs 1 Forecasted number of units = Forecasted average product cost 115 million 1 15.000 cars 7.667 per car + Requirement 2d. Why does the average product cost per car vary between years? because Chicago Auto will use more fixed costs to produce more cars next year. Chicago Auto will be using its resources more efficiently, so the average cost per unit will The average product cost per car decreases decrease Choose from any list or enter any number in the input fields and then continue to the next