The following information pertains to the most recent quarter at Precious Production Limited. Required: 1. Prepare a schedule of cost of goods manufactured. 3. Assume that the company produced the equivalent of 10,000 units of product during the quarter. What was the average cora fer unit for direct labour? What was the average cost per unit for factory insarance? (Round your answers to 2 dscimnt pleces.) 4. Assume that the compamy expects to produce 12,000 units of product during the coming quarter. What average cost per unit and what total cast would you expect the company to incur for direct materials at this level of activity? For factory insurance? (in preparing your answer. assume that direct materlals is a variable cost and that factory insurance is a fixed cost) (Round "Average cast per unit" answers to 2 decimal places.) 5. This part of the question is not part of your Connect assignment. 6. Assuming the company produced 20,000 fully and partially finished units during the quarter, determine the cost components of the finished goods inventory, which is composed of 4,000 finished units. 2. Prepare an income statement. Required: 1. Prepare a schedule of cost of goods manufactured, 2. Prepare an income statement