Jarvis Company provided the following information regarding its first year of operations: Administrative salaries Depreciation on factory equipment $ 60,800 16,800 Indirect materials 4,800
Jarvis Company provided the following information regarding its first year of operations: Administrative salaries Depreciation on factory equipment $ 60,800 16,800 Indirect materials 4,800 Marketing costs 48,000 Salaries for factory supervisors 32,000 Wages for production workers 90,360 Raw materials used 108,400 Research and development 36,000 Rent on factory building 20,000 Sales revenues 440,000 Sales salaries and other selling costs 64,000 Beginning inventory 0 units Number of units produced 22,000 Number of units sold 20,000 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. 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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