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Jarvis Company provided the following information regarding its first year of operations: Administrative salaries Depreciation on factory equipment Indirect materials Marketing costs Salaries for
Jarvis Company provided the following information regarding its first year of operations: Administrative salaries Depreciation on factory equipment Indirect materials Marketing costs Salaries for factory supervisors Wages for production workers $ 62,400 18,400 6,400 64,000 40,000 112,040 Raw materials used 125,200 Research and development 44,000 Rent on factory building 24,000 Sales revenues 456,000 Sales salaries and other selling costs 80,000 Beginning inventory e units Number of units produced 26,000 Number of units sold 24,000 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. Answer is complete but not entirely correct. a. Overhead costs $ 339,200 b. Product costs 576,440 x c. Product cost per unit $ 22.17 d. Total cost of ending finished goods inventory $ 44,340 e. Cost of goods sold S 532,080x
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