Various cost and sales data for Medco Inc. are given for the just-completed year: Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Depreciation, factory Insurance, factory Direct labour Maintenance, factory Administrative expenses Sales Utilities, factory Supplies, factory Selling expenses Indirect labour Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $ 139,500 12,000 19,500 60,000 5,500 63,500 32,000 74,000 560,000 29,500 1,050 84,500 68,500 7,250 31,000 10,750 43,000 MEDCO INC. Schedule of Cost of Goods Manufactured For the Year Ended XXXX Direct materials: 0 $ 0 Manufacturing overhead: 0 Total overhead costs Total manufacturing costs 0 0 Cost of goods manufactured $ 0 2. Prepare an income statement. MEDCO INC. Income Statement For the Year Ended XXXX Cost of goods sold: 0 0 Selling and administrative expenses: 0 0 3. Assume that the company produced the equivalent of 15,000 units of product during the year. What was the average cost per unit for direct materials? What was the average cost per unit for factory depreciation? (Round your answers to 2 decimal places.) Direct materials Depreciation Average cost per unit per unit 4. Assume that the company expects to produce 20,000 units of product during the coming year. What average cost per unit 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; also assume that depreciation is computed on a straight- line basis.) (Do not round intermediate calculations. Round "Average cost per unit" answers to 2 decimal places.) Average cost per unit Total cost Direct materials Depreciation 6. Assuming the information given in the problem relates to the production of 25,000 fully and partially finished units during the year and that 5,000 of those units remain unsold, determine the cost components of the finished goods inventory. Direct materials Direct labour Manufacturing overhead Total $ $ 0