Prime Cost, Conversion Cost, Preparation of Income Statement: Manufacturing Firm Kildeer Company makes easels for artists. During the last calendar year, a total of 29,000 easels were made, and 30,000 were sold for $60 each. The actual unit cost is as follows: Direct materials $15.00 Direct labor 5.00 Variable overhead 9.00 Fixed overhead 16.00 Total unit cost $45.00 The selling expenses consisted of a commission of $1.00 per unit sold and advertising co-payments totaling $90,500. Administrative expenses, all fixed, equaled $178,000. There were no beginning and ending work-in-process inventories. Bginning finished goods Inventory was $126,000 for 2,800 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