Problem 2-17 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behaviour [LO1, LO2, he...
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Problem 2-17 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behaviour [LO1, LO2, he following information pertains to the most recent quarter at Precious Production Limited. quired: repare a schedule of cost of goods manufactured. 3. Assume that the company produced the equivalent of 11,000 units of product during the quarter. What was the average cost per unit for direct labour? What was the average cost per unit for factory insurance? (Round your answers to 2 decimal places.) \begin{tabular}{|l|l|l|} \hline Direct labour & Average cout \\ \hline Insurance & 21.89 & per unit \\ \hline 5 & 23.70 & per unit \\ \hline \end{tabular} 4. Assume that the company expects to produce 13,000 units of product during the coming quarter. 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 insurance? (in preparing your answer, assume that direct materis. 1 5. This part of the question is not part of your Connect assignment. 6. Assuming the company produced 18,000 fully and partially finished units during the quartec, determine the cost components of the finished goods inventory, which is composed of 3,600 finished units
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