Problem /. Ellerson Company provided the following information for the last calendar year: Beginning inventory Direct materials $68,000 Work in process 29,400 Finished goods 43,200 Ending inventory Direct materials $70,400 Work in process 40,000 Finished goods 42,100 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. The following excel printout provides information to estimate overhead costs using linear regression: Regression Statistics Coefficients Standard Error 1 Star P-value Lower 95% Upper 95% Intercept 6035.987027 1411.05464 4.277642 0.002696 2782,0871 9289.88697 DLH 4.558482698 1.609683731 2.831912 0.022085 0.846543 8.27042244 #setups 771.1028938 54.93418317 14.03685 6.44E-07 644.42436 897.781429 moves 29.9411124 2.874675342 10.41548 6.26E-06 23.312095 36.5701299 Multiple R 0.996584412 R Square 0.99318049 Adjusted R Square 0.990623174 Standard Error 347.9563597 Observations 12 Required: (a). Write the complete cost function (round to nearest cent) using the appropriate variables. What's the estimated fixed st? What's the estimated variable cost per unit? (b). What is the overhead estimate if the department has 1,205 DLH, 55 setups and 125 moves? (4 points)