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Question - Solve the given problem based on the following information.
Jordan Revenues and Expenses (as of December 31, 2016)
Advertising expenses
$25,875
Depreciation-Office equipment
$6,525
Depreciation-Sales equipment
$7,740
Depreciation-Facility equipment
$30,195
Facility supervision
$92,340
Facility supplies
$6,615
Facility utilities
$29,700
Inventories
Raw material as of December 31, 2017
$150,165
Raw material as of December 31, 2016
$163,800
Work in progress (WIP) as of December 31, 2017
$14,130
Work in progress (WIP) as of December 31, 2016
$17,442
Finished goods as of December 31, 2017
$150,615
Finished goods as of December 31, 2016
$122,841
Direct labor
$607,932
Income tax
$210,353
Indirect labor
$51,188
Miscellaneous production costs
$7,583
Office salaries expense
$56,700
Raw material purchases
$832,500
Rent-Office space
$19,800
Rent-Selling space
$23,490
Rent-Factory building
$69,120
Maintenance-Facility equipment
$31,860
Sales
$4,072,500
Sales discounts
$56,250
Sales salaries expense
$353,304
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