Problem 2-24 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behaviour [LO1, LO2, LO3, LO4, LO5]

Carlton Manufacturing Company provided the following details about operations in February:

Purchases of raw materials	$	157,000
Maintenance, factory		39,700
Direct labour		34,300
Depreciation, factory equipment		58,600
Indirect materials, factory		3,450
Selling and administrative salaries		45,200
Utilities, factory		27,800
Sales commissions		18,400
Insurance, factory equipment		4,450
Depreciation, sales equipment		21,800
Advertising expenses		112,000
Rent, factory building		?

The company also provided details regarding the balances in the inventory accounts at the beginning and end of the month as follows:

	Beginning of Month	End of Month
Raw materials	$	34,000		?
Work in process		27,600		?
Finished goods		19,500		?

Raw materials used in production cost $166,320, total overhead costs for the month were $198,080, the goods available for sale totalled $396,000, and the cost of goods sold totalled $344,500.

Required:

1-a. Prepare a schedule of cost of goods manufactured of the companys income statement for the month of February.

1-b. Prepare a schedule cost of goods sold section of the companys income statement for the month of February.

2. Assume that the dollar amounts given above are for the equivalent of 16,800 units produced during the month. Compute the average cost per unit for direct materials used, and compute the average cost per unit for rent on the factory building. (Round your answers to 2 decimal places.)

3. Assume that in the following month the company expects to produce 21,800 units. What average cost per unit and total cost would you expect to be incurred for direct materials, and for rent on the factory building? Direct materials are a variable cost and rent is a fixed cost. (Round "Unit cost" answers to 2 decimal places.)

4. This part of the question is not part of your Connect assignment.