3. Matet Time Refrigeration uses an actual cost, job order system. The following transactions are for August 2011. At the beginning of the month, Direct Material Inventory was P17.750, Work in Process Inventory was P56,750, and Finished Goods Inventory was P27,500. Direct Material Purchases on account totaled was P27,500 Direct Labor cost for the period totaled P189.000 for 20.000 direct labor hours: these costs were paid in cash. Actual overhead costs were P205,000 and are applied to production based on direct labor hours. The ending inventory of Direct material Inventory was P7,500. The ending inventory of Work in Process Inventory was P28,750. Goods Costing P609,250 were sold for P865,125. Requirements: a. Compute the total product cost (2 pts) b. Compute the cost of Goods Manufactured (2 pts) C. Compute the cost of Goods Available for Sale (2 pts)