The Shim Refrigerator Co. shows the following records for the period ended Dece

The Shim Refrigerator Co. shows the following records for the period ended December 31 19A:

Materials purchased

$ 550000

Inventories Jan. 1 19A:

Materials

$ 20000

Work-in-process

$ 200000

Finished goods

1000 units

Direct labor

$1050000

Factory overhead (40% variable)

$ 750000

Selling expenses (all fixed)

$ 500750

General and administrative (all fixed)

$ 385230

Sales (7500 units at $535)

Inventories Dec. 31 19A:

Materials

$ 50000

Work-in-process

$ 100000

Finished goods

1000 units

Assume that finished goods inventories are valued at the current unit manufacturing cost.

1. Prepare a schedule of cost of goods manufactured.

2. Find the number of units manufactured and unit manufacturing cost.

3. Prepare an income statement for the period.

4. Find the total variable and fixed costs.