The following information for Transcontinental Inc. is provided. Use this information to answer the succeeding eight questions

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The following information for Transcontinental Inc. is provided.  Use this information to answer the succeeding eight questions

Materials Inventory (Jan. 1) $33,500
Work-in-process Inventory (Jan. 1) 28,100
Finished Goods Inventory (Jan. 1) 36,700
Cost of materials purchased 192,000
Total direct labor costs 168,300
Depreciation – factory machinery 36,200
Small tools expense 8,100
Office supplies 13,400
Machine helpers wages 48,500
Miscellaneous factory expenses 19,600
Presidents salary 125,000
Power – factory 27,100
Factory insurance expense 10,600
Factory supervisors salary 39,500
Sales and advertisement 18,000
Power-office 11,200
Depreciation – office equipment 8,500
Materials inventory (Dec. 31) 28,200
Work-in-process inventory (Dec. 31) 34,700
Finished Goods Inventory (Dec. 31) 13,900
The sales for Transcontinental Inc. during this year were $1,050,000 and a total of 4,800 units were
completed during the year. Compute the following for the year:
1.      Cost of materials used?
2.      Factory overhead?
3.      Total manufacturing cost?
4.      Cost of goods manufactured?
5.      Cost of goods sold?
6.      Gross margin?
7.      Net Income (Loss)?
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