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Purchases of raw materials Brighton Ltd Cost and Sales Information For the Year Ended December 31, 2020 Raw materials inventory, beginning Raw materials inventory,
Purchases of raw materials Brighton Ltd Cost and Sales Information For the Year Ended December 31, 2020 Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory $ 91,000 11,000 18,000 42,600 Insurance, factory 5,000 Direct labour 61,000 Maintenance, factory 30,000 Administrative expense 70,400 Sales 460,000 Utilities, factory 27,000 Supplies, factory Selling expense Advertising expense Indirect labour, factory Work in process inventory, beginning 1,000 80,400 20,400 65,000 7,000 Work in process inventory, ending 30,000 Finished goods inventory, beginning 10,000 Finished goods inventory, ending Requirement 1: 20mks Prepare a schedule of cost of goods manufactured.. Requirement 2: 20mks Prepare an income statement. 40,000 Requirement 3: 5mks Assume that the company produced 10,000 units of product during the year. What was the average. cost per unit for direct materials? What was the average cost per unit for factory depreciation? (Round your answers to 2 decimal places.) Requirement 4: 5mks 4. Assume that the company expects to produce and sell 15,000 units of product during the coming year. What average cost per unit and what total cost would you expect the company to incur for direct materials and for factory depreciation at this level of activity? Assume that raw materials costs charged by suppliers will not change next year. For factory depreciation, assume that the company uses straight-line depreciation and that the factory equipment has five years of useful life remaining. (Round your answers to 2 decimal places.)
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