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The following costs relate to activity for Martin Company's month ended March 2020. All amounts are stated in $1,000's. Indirect materials $300 Rent on factory

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The following costs relate to activity for Martin Company's month ended March 2020. All amounts are stated in $1,000's. Indirect materials $300 Rent on factory building $500 Maintenance of equipment $50 Direct material used $1.200 Utilities on factory $250 Direct labour $1.500 Selling expense $500 Administrative expense $300 Work-in-process inventory, beginning $600 Work-in-process inventory, ending $800 Finished goods inventory, beginning $500 Finished goods inventory, ending $250 Sales for the month of March 2020 were $5,000. Required: (a.) Prepare a schedule of cost of goods manufactured in good form. (10 marks) (b.) Prepare an Income Statement in good form. (7 marks) 3. (c.) Assume Martin Company produced the equivalent of 500 units during this particular month. (6 marks) What were the total conversion costs for the month? What were the total prime costs for the month? What was the average cost per unit for period costs? What was the average unit cost of the product

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