During the year, direct materials purchases amounted to $278,000, direct labor cost was $189,000, and overhead cost was $523,000. During the year, 100,000 units were completed. Last calendar year, Ellerson recognized revenue of $1,312,000 and had selling and administrative expenses of $204,600. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2,$2.70 is direct materials and $5.30 is overhead. What is the prime cost per unit? Conversion cost per unit? 4. What is the cost of goods sold for last year? 5. Prepare an income statement for Ellerson for last year. Problem 2. (3pts) The following excel printout provides information to estimate overhead costs using linear regression: (a). Write the complete cost function (round to nearest cent) using the appropriate variables. What's the estimated fixed cost? What's the estimated variable cost per unit? (b). What is the overhead estimate if the department has 1,205DLH,55 setups and 125 moves? (4 points) (c). Calculate a 99 percent confidence internal for the prediction made in requirement (b). (4 points)