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Jarvis Company provided the following information regarding its first year of operations: Administrative salaries Depreciation on factory equipment Indirect materials $ 61,600 17,600 5,600
Jarvis Company provided the following information regarding its first year of operations: Administrative salaries Depreciation on factory equipment Indirect materials $ 61,600 17,600 5,600 Marketing costs 56,000 Salaries for factory supervisors 36,000 Wages for production workers 101,040 Raw materials used 116,800 Research and development 40,000 Rent on factory building 22,000 Sales revenues 448,000 Sales salaries and other selling costs 72,000 Beginning inventory 0 units Number of units produced 24,000 Number of units sold 22,000 s Required: Determine the following amounts: (a) Total overhead costs. (b) Total product costs. (c) Product cost per unit. Note: Round your answer to 2 decimal places. (d) Total cost of ending finished goods inventory. (e) Total cost of goods sold. a Overhead costs b. Product costs c. Product cost per unit d. Total cost of ending finished goods inventory e. Cost of goods sold
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