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Visic Corporation, a manufacturing company, produces a single product. The following information has been taken from the company's production, sales, and cost records for the just completed year Production in units Sales in units Ending finished goods inventory in unito.. 29,000 Sales in dollars Costs: 1,300,000 Direct labor Raw materials purchased Manufacturing overhead Selling and administrative expenses $90,000 $480,000 $300,000 $380,000 Beginning of the Year End of the Year Inventories: Raw materials Work in proced Finished goodo $20,000 $50,000 SO 30,000 40,000 The finished goods inventory is being carried at the average unit production cost for the year. The sell- ing price of the product is $50 per unit. Required: 1. Prepare a schedule of cost of goods manufactured for the year 2. Compute the following: The number of units in the finished goods inventory at the end of the year The cost of the units in the finished goods inventory at the end of the year a. b. Prepare an income statement for the year 3