Visic Corporation, a manufacturing company, produces a single product. The following information has been taken from the company's production, sales, and cost records for the just completed year. Production in units 29000 Sales in units Ending finished goods inventory units Sales in dollars $1,3,00,000 Costs: Advertising ..$105,000 Entertainment and travel ...$40,000 Direct labor $95,000 Indirect labor $80,000 Raw materials purchased $480,000 Building rent (production uses 80% of the space; administrative and sales offices use the rest).. $40,000 Utilities, factory. --$108,000 Royalty paid for use of production patent, $1.50 per unit produced...? Maintenance, factory $10,000 Rent for special production equipment $7000 per year plus $0.30 per unit produced Selling and administrative salaries $210,000 Other factory overhead costs $7,800 Other selling and administrative expenses $18,000 ? The finished goods inventory is being carried at the average unit production cost for the year. The selling price of the product is $50 per unit. Beginning of the Year End of the Year Inventories: Raw materials ...$22,000 $32,000 Work in process ...$55,000 $45,000 Finished goods.......$0 ? Required: 1. Prepare a schedule of cost of goods manufactured for the year. 2. Compute the following. a. The number of units in the finished goods in inventory at the end of the year. b. The cost of the units in the finished goods in inventory at the end of the year. 3. Prepare an income statement for the year. [10]