Prime Cost, Conversion Cost, Preparation of Income Statement: Manufacturing Firm Kildeer Company makes easels for artists. During the last calendar year, a total of 27,000 easels were made, and 28,000 were sold for $60 each. The actual unit cost is as follows: Direct materials $13.00 Direct labor 5.00 Variable overhead 13.00 Fixed overhead Total unit cost 14.00 $45.00 The selling expenses consisted of a commission of $1.00 per unit sold and advertising co-payments totaling $90,000. Administrative expenses, all fixed, equaled $176,500. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was $166,500 for 3,700 easels. Required: 1. Calculate the number and the dollar value of easels in ending finished goods inventory. Ending units Dollar amount 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 sold