Cost and sales information for the most recent fiscal year are shown below: WALLACE RIVER COMPANY Cost and Sales Information For the Year Ended December 31 Purchases of raw materials $90,500 Raw materials inventory, beginning 10,500 Raw materials inventory, ending 17,500 Depreciation, factory 42,300 Insurance, factory 5,000 Direct labour 60,500 Maintenance, factory 30,000 Administrative expense 70,200 Sales 455,000 Utilities, factory 27,000 Supplies, factory 1,000 Selling expense 80,200 Advertising expense 20,200 Indirect labour, factory 65,000 Work in process inventory, beginning 7,000 Work in process inventory, ending Finished goods inventory, beginning 30,000 10,000 Finished goods inventory, ending 40,000 1. Compute the raw materials used in production or direct materials. 2. What is the direct labor costs used in production? 3. What is the manufacturing overhead for the year? 4. What is the total manufacturing costs incurred during the year? 5. What is the total cost of goods manufactured? 6. What is the cost of goods sold? 7. What is the total selling and administrative expenses? 8. Assume that the company produced 10,000 units of product during the year. What was the average cost per unit for direct materials? (Round your answers to 2 decimal places.) 9. Assume that the company expects to produce and sell 15,000 units of product during the coming year. What total cost would you expect the company to incur for direct materials? Assume that raw materials costs charged by suppliers will not change next year. (Round your answers to 2 decimal places.)