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The following costs relate to one month's activity in Martin Company: $300 Indirect materials Rent on factory building $500 Maintenance of equipment $50 Direct material
The following costs relate to one month's activity in Martin Company: $300 Indirect materials 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, $600 beginning Work in process inventory, ending $800 Finished goods inventory, $500 beginning Finished goods inventory, ending $250 Required: a) Prepare a schedule of cost of goods manufactured in good form. b) Determine the cost of goods sold. C) Assume Martin Company produced the equivalent of 500 units during this particular month. What was the average cost per unit for direct materials? For rent on factory building? d) Assume next month Martin Company plans to produce 600 units of product. What average cost per unit and total cost would you expect to be incurred for direct material? for rent
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