V. Various cost and sales data for Mahlum Company for the just completed year follow: Finished goods inventory, beginning.... $22,000 Finished goods inventory, ending $18,000 Depreciation factory $27.000 Administrative expenses S47,000 Utilities, factory S13,000 Maintenance. factory $19.000 Supplies, factory $14.000 Insurance, factory S5,000 Purchases of raw materials, 599,000 Raw materials inventory, beginning S1200X0 Raw materials inventory, ending SI5.000 Direct labor $68.000 Indirect labor $23.000 Work in process inventory beginning $15.000 Work in process inventory. ending $11,000 Sales $420,000 S64.000 Selling expenses Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare an income statement 3. The company produced the equivalent of 12.000 units of product during the year just completed. What was the average cost per unit for direct materials? What was the average cost per unit for factory depreciation? 4. The company expects to produce 10.000 units of product during the coming year. What per unit cost and what total cost would you expect the company to incur for direct materials at this level of activity? For factory depreciation? (In preparing your answer, assume that direct materials is a variable cost and that depreciation is a fixed cost that will be the same next year as it was this year.) 5. Explain to the president any difference in the average cost per unit between (3) and (4) above. Consistint of a table and four VIT