The Outdoor Dining Company spectalizes in producing a set of wood patio futniture consisting of a fable and four chairs. The sef enjoys great popularity, and the company has ample orders to keep production going at its full capacity of 1,400 sets per year. Annual cost data al full capacity follow: Required: 1. Enter the dollar amount of each costitem under the approptate headings. Note that each cost item is classified in two ways: fisst, as either variable or fixed with respect to thenumber of units produced and sold, and second, as ether a selling and adrinistrative cost or at product cost. (If the item is in product cost. It should also be classified as either direct of indirect) 1. Enter the dollar amount of coch cost item under the appropilate headings. Note that each cost item is classified in two ways. first, as efther variable or foed with respect in the number of units produced and sold, and second, as elther a selling and admiristrative cost or a product cost, (If the item is a product cost, it should also be classified as either direct of indirect) 2. Compute the average product cost per patio set. (Round your answer to 2 decimol places.) 3. Due to reduced demand. assuane that production drops to only too0 sets per year. Would you expect the awerage product cost per patio wet to increase, decrease, or termain unchanged? fincrease Decrease Remain. unchanged 4. This part ot the question is not part of your Connect assidnusent