James Company provided the following information regarding its first year of operations:Administrative salaries$$65,000$ Depreciation on factory equipment $18,000$ Indirect materials $7,000$ Marketing costs $40,000$ Salaries for factory supervisors $32,000$ Wages for production workers $84,000$ Raw materials used $120,000$ Research and development $42,000$ Rent on factory building $28,000$ Sales revenues $475,000$ Sales salaries and other selling costs $59,000$ Beginning inventory $0$ unitsNumber of units produced $25,000$ unitsNumber of units sold $22,000$ units $(1$ point$)$ Question $1-$ Calculate total product costs. $(1$ point$)$ Question $2-$ Calculate product cost per unit.$(1$ point$)$ Question $3-$ Determine total cost of ending finished goods inventory. $(1$ point$)$ Question $4-$ Calculate total cost of goods sold. $(1$ point$)$ Question $5-$ What is James Companys gross margin for the first year of operations?