Cost Definitions Picante, Inc., provided the following information for the last calendar year: Beginning inventory: Direct materials $34,400 Work in process 43,200 Ending inventory: Direct materials $18,000 Work in process 25,600 During the year, direct materials purchases amounted to $254,000, direct labor cost was $176,000, and overhead cost was $314,400. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. S 2. Calculate the cost of goods manufactured. S Calculate the unit manufacturing cost. If required, round your answer to the nearest cent. Read