Prime Cost, Conversion Cost, Preparation of Income Statement: Manufacturing Firm Kildeer Company makes easels for artists. During the last calendar year, a total of 36,000 easels were made, and 37,000 were sold for $56 each. The actual unit cost is as follows: Direct materials Direct labor Variable overhead Fixed overhead Total unit cost $14.00 5.00 7.00 16.00 $42.00 The selling expenses consisted of a commission of $0.80 per unit sold and advertising co-payments totaling $92,500. Administrative expenses, all fixed, equaled $182,000. There were no beginning and ending work-in-process inventories. Beginning finished goods Inventory was $121,800 for 2,900 casals. Required: 1. Calculate the number and the dollar value of casels 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 3. Prepare an absorption-casting income statement. In addition to dollar amounts, enter the amounts as a percent, rounded to two decimal places. For example, .5235 would be 52.35% and you would enter 52.35 as your answer. Kildeer Company Income Statement: Absorption Costing For the Year Ended December 31 Less operating expenses: 100 000 Percent 56 % 56