Perez Manufacturing Company was started on January $1,$ year $1,$ when it acquired $$78,000$ cash by issuing common stock. Perez immediately purchased office furniture and manufacturing equipment costing $$9,100$ and $$33,100,$ respectively. The office furniture had an eight$-$year useful life and a zero salvage value. The manufacturing equipment had a $$3,100$ salvage value and an expected useful life of four years. The company paid $$11,700$ for salaries of administrative personnel and $$15,300$ for wages to production personnel. Finally, the company paid $$12,400$ for raw materials that were used to make inventory. All inventory was started and completed during the year. Perez completed production on $4,400$ units of product and sold $3,480$ units at a price of $$15$ each in year $1.($Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP.$)$

Required

a$.$ Determine the total product cost and the average cost per unit of the inventory produced in year $1.$

Note: Round "Average cost per unit" to $2$ decimal places.

b$.$ Determine the amount of cost of goods sold that would appear on the year $1$ income statement.

Note: Do not round intermediate calculations.

c$.$ Determine the amount of the ending inventory balance that would appear on the December $31,$ year $1,$ balance sheet.

Note: Do not round intermediate calculations.

d$.$ Determine the amount of net income that would appear on the year $1$ income statement.

Note: Do not round intermediate calculations.

e$.$ Determine the amount of retained earnings that would appear on the December $31,$ year $1,$ balance sheet.

Note: Do not round intermediate calculations.

f$.$ Determine the amount of total assets that would appear on the December $31,$ year $1,$ balance sheet.

Note: Do not round intermediate calculations.

$\backslash$table$[[$a$.$ Total product cost,$],[$a$.$ Average cost per unit,$],[$b$.$ Cost of good sold,$],[$c$.$ Ending inventory,$],[$d$.$ Net income,$],[$e$.$ Retained earnings,$],[$f$.$ Total assets,$]]$