Module 1: Chapter 2: Cost Flow (To be posted as a group assignment in your group discussion area) The following information for Transcontinental Inc. is provided. Use this information to answer the succeeding eight questions: Materials Inventory (Jan. 1) S41,500 18,900 26,400 145,700 112,300 37,800 9,100 23,000 38,200 15,600 315,000 17,800 10,600 89,300 74,000 7,200 4,750 18,200 42,200 25,900 Work-in-process Inventory (Jan. 1) Finished Goods Inventory (Jan. 1) Cost of materials purchased Total direct labor costs Depreciation-factory machinery Small tools expense Office supplies Machine helpers wages Miscellaneous factory expenses Presidents salary Power - factory Factory insurance expense Factory supervisors salary Sales and advertisement Power-office Depreciation - office equipment Materials inventory (Dec. 31) Work-in-process inventory (Dec. 31) Finished Goods Inventory (Dec. 31) The sales for Transcontinental Inc. during this year were S1,645,000 and a total of 3,900 units were completed during the year. Compute the following for the year Cost of materials used? 1 2. Factory overhead? 3. Total manufacturing cost? 4. Cost of goods manufactured? 5. Cost of goods sold? Gross margin? 6. Net Income (Loss)? 7. Unit Cost? 8