Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Classify each of the following costs for Harrison Company as a selling or general and administrative period cost or as a direct or indirect product

Classify each of the following costs for Harrison Company as a selling or general and administrative period cost or as a direct or indirect product cost by entering the dollar amount(s) in the appropriate column(s):
\table[[Item,Period cost,Product cost],[\table[[Selling],[expense]],\table[[General and],[administrative],[expense]],Direct cost,Indirect cost],[A. Paid $75,100 in wages for employees who assemble the company's products.,,,,],[B. Paid sales commissions of $58,200.,,,,],[C. Paid $38,800 in salaries for factory supervisors.,,,,],[D. Paid $88,300 in salaries for executives (president and vice presidents).,,,,],[\table[[E. Recorded depreciation cost of $30,400. $16,400 was depreciation on factory equipment and $14,000 was],[depreciation on the company headquarters building.]],,,,],[F. Paid $3,100 for various supplies that it used in the factory (oil and materials used in machine maintenance).,,,,],[G. Used $12,400 in prepaid corporate liability insurance.,,,,]]
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

13th Edition

978-0073379616, 73379611, 978-0697789938

More Books

Students also viewed these Accounting questions