Selling and administrative salaries $110.000 Insurance, factory 8,000 Utilities, factory 65,000 Purchases of raw materials 390,000 Indirect labour 60,000 Direct labour ? Advertising expense 70.000 Cleaning supplies, factory 7,000 Sales commissions 50,000 Rent, factory building 90,000 Maintenance, factory 40,000 Inventory balances at the beginning and end of the year were as follows: Beginning of the Year End of the Year Raw materials $30,000 $10,000 Work in process ? 20.000 Finished goods 20,000 The total manufacturing costs for the year were 5753,000, the goods available for sale totalled $790,000, and the cost of goods sold totalled $740,000 Required: 1. Prepare a schedule of cost of goods manufactured in good form and the cost of goods sold section of the company's income statement for the year. 2. Assume that the dollar amounts given above are for the equivalent of 40,000 units produced during the year. Compute the average cost per unit for direct materials used and the average cost per unit for rent on the factory building MERIWELL COMPANY Finished goods inventory, beginning Finished goods inventory, ending Depreciation, factory Administrative expenses Utilities, factory Maintenance, factory Supplies, factory Insurance, factory Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Direct labour Indirect labour Work in process inventory, beginning Work in process inventory, ending Sales Selling expenses $20,000 40,000 27,000 1.10,000 8,000 40,000 11,000 4,000 1.25,000 9,000 6,000 70,000 15,000 17,000 30,000 5,00,000 80,000 Check figure: Cost of goods manufactured $290,000