Question
Jarvis Company provided the following information regarding its first year of operations: Administrative salaries $ 64,000 Depreciation on factory equipment 20,000 Indirect materials 8,000 Marketing
Jarvis Company provided the following information regarding its first year of operations: Administrative salaries $ 64,000 Depreciation on factory equipment 20,000 Indirect materials 8,000 Marketing costs 80,000 Salaries for factory supervisors 48,000 Wages for production workers 135,000 Raw materials used 142,000 Research and development 52,000 Rent on factory building 28,000 Sales revenues 472,000 Sales salaries and other selling costs 96,000 Beginning inventory 0 units Number of units produced 30,000 Number of units sold 28,000 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.
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