$ 5 The following items in millions) pertain to Chan Corporation: For Specific Date For Year 2009 Work-in-process inventory, Jan. $ 10 Plant utilities 01, 2009 Direct materials inventory, Dec. 5 Indirect manufacturing labor 31, 2009 Finished goods inventory, Dec. 12 Depreciation-plant and 31, 2009 equipment Accounts payable, Dec. 31, 2009 20 Revenues 20 9 350 10 Accounts receivable, Jan. 01, 2009 50 Miscellaneous manufacturing overhead 90 Work-in-process inventory, Dec. 31, 2009 2 Marketing, distribution, and customer service cost Finished goods inventory, Jan. 01, 2009 40 Direct materials purchased 80 Accounts receivable, Dec. 31, 2009 30 Direct manufacturing labor 40 Accounts payable, Jan.01, 2009 40 Plant supplies used 6 Direct materials inventory, Jan. 01, 2009 30 Property tax on plant 1 Chan's manufacturing costing system uses a three-part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs. 1. Prepare an income statement and a schedule of cost of goods manufactured. 2. Calculate total prime costs and total conversion costs. 3. Compute total inventoriable costs and period costs. 4. Suppose that both the direct materials used and the depreciation on plant and equipment are related to the manufacture of 1 million units of product. Determine the unit cost for the direct materials assigned to those units and the unit cost for depreciation on plant and equipment. Assume that yearly depreciation is computed on a straight-line basis