Cost Assignment The sales staff of Central Media (a locally owned radio and cable television station) consists of two salespeople, Derek and Lawanna. During March, the following selenes and commissions were paid: Derek Lawanna Salaries $25,000 $30,000 Commissions 6,000 1,500 Derek spends 100% of his time selling advertising, Lawanna spends two-thirds of her time selling advertising and the remaining one-third on administrative work Commissions are paid only on sales. Cost Assignment The sales staff of Central Media (a locally owned radio and cable television station) consists of two salespeople, Derek and Lawanna. During March, the following starles and commissions were paid: Derek Lawanna Salaries $25,000 $32,400 Commissione 7.400 1,700 Derek spends 100% of his time selling advertising, Lawanna spends two-thirds of her time selling advertising and the remaining one-third on administrative work Commissions are paid only on sales. Required: Cost Classification Loring Company incurred the following costs last year: Costs Amounts Direct materials $216,000 Factory rent 24,000 Direct labor 120,000 Factory utilities 6,300 Supervision in the factory 50,000 Indirect labor in the factory 30,000 Depreciation on factory equipment 9,000 Sales commissions 27,000 Sales salaries 65,000 Advertising 37,000 Depreciation on the headquarters building 10,000 Salary of the corporate receptionist 30,000 Other administrative costs 175,000 Salary of the factory receptionist 28,000 Cost Classification Loring Company incurred the following costs last year: Costs Amounts Direct materials $210,000 Factory rent 25,000 Direct labor 120,000 Factory utilities 7,000 Supervision in the factory 51,000 Indirect labor in the factory 30,000 Depreciation on factory equipment 8,700 Sales commissions 28,000 Sales salaries 61,000 Advertising 39,000 Depreciation on the headquarters building 11,000 Salary of the corporate receptionist 32,000 Other administrative costs 161,000 Salary of the factory receptionist 25,000 Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($60 per unit) 8,800 Variable costs per unit: Direct materials $12 Direct labor $7 Variable overhead $5 Fixed costs: Fixed overhead per unit produced $8 Fixed selling and administrative $138,000 Cost Assignment The sales staff of Central Media (a locally owned radio and cable television station) consists of two salespeople, Derek and Lawanna. During March, the following selenes and commissions were paid: Derek Lawanna Salaries $25,000 $30,000 Commissions 6,000 1,500 Derek spends 100% of his time selling advertising, Lawanna spends two-thirds of her time selling advertising and the remaining one-third on administrative work Commissions are paid only on sales. Cost Assignment The sales staff of Central Media (a locally owned radio and cable television station) consists of two salespeople, Derek and Lawanna. During March, the following starles and commissions were paid: Derek Lawanna Salaries $25,000 $32,400 Commissione 7.400 1,700 Derek spends 100% of his time selling advertising, Lawanna spends two-thirds of her time selling advertising and the remaining one-third on administrative work Commissions are paid only on sales. Required: Cost Classification Loring Company incurred the following costs last year: Costs Amounts Direct materials $216,000 Factory rent 24,000 Direct labor 120,000 Factory utilities 6,300 Supervision in the factory 50,000 Indirect labor in the factory 30,000 Depreciation on factory equipment 9,000 Sales commissions 27,000 Sales salaries 65,000 Advertising 37,000 Depreciation on the headquarters building 10,000 Salary of the corporate receptionist 30,000 Other administrative costs 175,000 Salary of the factory receptionist 28,000 Cost Classification Loring Company incurred the following costs last year: Costs Amounts Direct materials $210,000 Factory rent 25,000 Direct labor 120,000 Factory utilities 7,000 Supervision in the factory 51,000 Indirect labor in the factory 30,000 Depreciation on factory equipment 8,700 Sales commissions 28,000 Sales salaries 61,000 Advertising 39,000 Depreciation on the headquarters building 11,000 Salary of the corporate receptionist 32,000 Other administrative costs 161,000 Salary of the factory receptionist 25,000 Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($60 per unit) 8,800 Variable costs per unit: Direct materials $12 Direct labor $7 Variable overhead $5 Fixed costs: Fixed overhead per unit produced $8 Fixed selling and administrative $138,000