Requirements 1. Show how to compute cost of goods manufactured. Use the following amounts: direct materials used ($24,000). direct labor ($9,000), manufacturing overhead ($17,000), beginning work in process inventory ($5,000), and ending work in process inventory ($4,000). 2. Auto - USA spent $300 million in total to produce 50,000 cars this year. The $300 million breaks down as follows: The company spent $50 million on fixed costs to run its manufacturing plants and $5,000 of variable costs to produce each car. Next year, it plans to produce 60,000 cars using the existing production facilities. Read the requirements related to Auto-USA. Requirement 1. Show how to compute cost of goods manufactured. Use the following amounts: direct materials used ($24,000), direct labor ($9,000), manufacturing overhead ($17,000), beginning work in process inventory ($5,000), and ending work in process inventory ($4,000). Calculation of Cost of Goods Manufactured Plus: Manufacturing costs incurred Less Cost of goods manufactured (CGM) Requirement 2a. What is the current average product cost per car this year? Determine the formula, then calculate the current average product cost per unit. (Enter your answer to the nearest Requirement 2a. What is the current average product cost per car this year? Determine the formula, then calculate the current average product cost per unit. (Enter your answer to the nearest dollar.) cars Current average product cost million ! per car Requirement 2b. Assuming there is no change in fixed costs or variable costs per unit, what is the total forecasted cost to produce 60,000 cars next year? Determine the formula, then calculate the total forecasted costs. million - Total forecasted costs million + million Requirement 2c. What is the forecasted average product cost per car next year? Determine the formula, then calculate the forecasted average product cost per unit. (Round your answer to the nearest whole dollar.) Forecasted average product cost million cars per car Requirement 2b. Assuming there is no change in fixed costs or variable costs per unit, what is the total forecasted cost to produce 60,000 cars next year? Determine the formula, then calculate the total forecasted costs. = Total forecasted costs million million million + + Requirement 2c. What is the forecasted average product cost per car next year? Determine the formula, then calculate the forecasted average product cost per unit. (Round your answer to the nearest whole dollar.) = Forecasted average product cost million cars per car Requirement 2d. Why does the average product cost per car vary between years? The average product cost per car because Auto-USA will use fixed costs to produce cars next year. Auto-USA will be using its resources efficiently, so the average cost per unit will cturing overhead ($17,000), beginning ending work in process inventory ($4,000). Calculation of Cost of Goods Manufactured Beginning raw materials inventory Beginning work in process inventory Direct labor Direct materials used Ending raw materials inventory Ending work in process inventory Manufacturing overhead Total manufacturing costs to account for Requirement 2a. What is the current average product cost per car this year? Determine the formula, then calculate the current average product cost per unit. (En Choose from any list or enter any number in the input fields and then continue Less: Cost of goods manufactured (CGM) Requirement 2a. What is the current average product cost p Determine the formula, then calculate the current average pro dollar.) R CI o change in fixed costs o ? Current year's number of units Forecasted number of units Forecasted total fixed costs D Forecasted total variable costs Total costs Total variable costs the total forecasted costs. Choose from any list or enter any number in the input fields ar rement 2d. Why does the average product cost per car vary between years? verage product cost per car because Auto-USA will use fixec cars next year. Auto - USA efficiently, so the average cost decreases increases ose from any list or enter any remains the same s and then continue to the next quest oes the average product cost per car vary between years? fied costs to proc est per car because Auto-USA will use Auto - USA will be using its resources efficiently, so ti r unit will less more or enter any number in the input fields and then continue the same on. Requirement 2d. Why does the average product cost per car vary between years? The average product cost per car because Auto-USA will use cars next year. Auto - USA will be using its resources efficiently, so the average less more ny list or enter any number in the input fields and then continue to the next