Jarvis Company Provided the Following Information Regarding Its First Year

Essay

Jarvis Company provided the following information regarding its first year of operations: $$\begin{array}{l}\begin{array} { | l | r | } \hline \text { Administrative salaries } & \$ 60,000 \\\hline \text { Depreciation on factory equipment } & 16,000 \\\hline \text { Indirect materials } & 4,000 \\\hline \text { Marketing costs } & 40,000 \\\hline \text { Salaries for factory supervisors } & 28,000 \\\hline \text { Wages for production workers } & 80,000 \\\hline \text { Raw materials used } & 100,000 \\\hline \text { Research and development } & 32,000 \\\hline \text { Rent on factory building } & 18,000 \\\hline \text { Sales revenues } & 432,000 \\\hline \text { Sales salaries and other selling costs } & 56,000 \\\hline\end{array}\\\begin{array} { | l | c | } \hline \text { Beginning inventory }\quad \quad \quad \quad \quad \quad \quad & 0 \text { units } \\\hline \text { Number of units produced } & 20,000 \\\hline \text { Number of units sold } & 18,000 \\\hline\end{array}\end{array}$$ Required:
Determine the following amounts:
(a)Total overhead costs.
(b)Total product costs.
(c)Product cost per unit.
(d)Total cost of ending finished goods inventory.
(e)Total cost of goods sold.