Question
1. ABC Company manufactures computers and incurred the following costs during the current year. Required: Classify each cost using the table format given below: Product
1. ABC Company manufactures computers and incurred the following costs during the current year.
Required: Classify each cost using the table format given below:
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| Product Cost |
| Period Cost | ||
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| Direct Materials | Direct Labor |
Overhead | Selling Expense | Administrative Expense |
1. | Wages of employees Assembling products |
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2. | Paper used in accounting |
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3. | Factory supervisor's salary |
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4. | Commissions for sales |
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5. | Factory maintenance wages |
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6. | Advertising |
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7. | Wages of accounting staff |
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8. | Factory insurance |
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9. | Factory utilities |
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10. | Cost of computer parts |
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