Time Cost, Conversion Cost, Preparation of Income Statement Manufacturing Firm ideer Company makes easels for artists. During the last calendar yea total of 24,000 cars were made, and 25,000 were sold for 560 eachThe actual unit cost is as follows Direct materials $13.00 Direct labor 6.00 Variable overhead 11.00 Fixed overhead 15.00 Total unit cost 545.00 The selling expenses consisted of a commission of $1.00 per unit sold and advertising co-payments totaling 594,000. Adelinistrative expenses, xed, equaled 5177,000. There were no beginning and ending work in process inventories. Being finished goods entory was $139,500 for 3,100 casels. Required 1. Calculate the number and the dollar value of easels in ending finished goods inventory. Ending units 2,100 Dollar amount 94,500 2. Prepare a cost of goods sold statement Kildeer Company Statement of Cost of Goods Sold For the Year Ended December 31 Statement of Cost of Goods Sold For the Year Ended December 31 Cost of goods sold 3. Prepare an absorption-costing income statement. In addition to dollar amounts, enter the amounts as a percent, rounded to two decimal places. would be 52.35% and you would enter 52.35 as your answer. Kildeer Company Income Statement: Absorption Costing For the Year Ended December 31 Percent JOU 000 Less operating expenses % DI od 99 4. How Kildeer's accountants might utilize one or more data analytic types (descriptive, diagnostic predictive, or prescriptive), along with its absorption costing income statement to improve various decisions involving its easels (refer to Exhibit 2.5 and Exhibit 26 for a review of data analytic types) data analytics would inform accountants as to any historic trends in the cases sales revenues, cost of goods sold, and profitability data analytics, such as an analysis of the casel's significant cost drivers would for accountants to why the esses incur the current costs given existing production technologies and so forth data analytics, such as sales or cost of goods sold forecasting models, would to contents better predict future trends in the cases sales, costs, and profitability Finally, analytics, such as Monte Carlo simulations should help accountants to more effectively reduce the future product cost of manufacturing cases, well as full cost across the value chain of designing, delivering, and serving cases