Prepare a statement of cost of goods manufactured. Compute the average cost of producing one unit of product in the year. Prepare an income statement for external users. Given the detailed cost information provided, what managerial accounting policies or strategies could W. W. Phillips Company consider implementing to optimize its cost structure, improve profitability, and enhance overall financial performance? Additionally, how might the company use the cost information to make informed decisions regarding pricing strategies, production efficiency, and resource allocation