The following information pertains to the most recent quarter at Builders Production Limited. Requirement 1: (15 Mks) 1. Prepare a schedule of cost of goods manufactured. Requirement 2: (15 Mks) 2. Prepare an income statement. Requirement 3: (10 Mks.) 3. Assume that the company produced the equivalent of 15,000 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? Requirement 4: (10 Mks.) 4. Assume that the company expects to produce 17,000 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 materials is a variable cost and that factory insurance is a fixed cost.)
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