Direct labor: $$75,000$

Depreciation on factory equipment: $$13,000$

Sales salaries: $$45,000$

Depreciation on trucks used to deliver goods to customers: $$5,000$

Property taxes on factory building: $$4,000$

Indirect factory labor: $$50,000$

Repairs to office equipment: $$2,000$

Indirect materials: $$80,000$

Sales revenue: $$350,000$

Direct materials used: $$140,000$

Advertising: $$16,000$

Factory manager's salary: $$8,000$

Office supplies used: $$3,000$

Assume the number of units produced was $10,000$ units and the number of units sold was $7,000$ units.

Calculations for you to make:

Calculate total product$/$manufacturing costs.

Calculate total manufacturing overhead.

Calculate unit product cost.

Calculate cost of goods sold.

Calculate gross profit.

Calculate net income.

Calculate the amount of inventory to be reported on the balance sheet