E2-22. Financial statement classification Babineaux Company for insurance of company in May: - Paid a six-month (May through October) premium for insurance of company headquarteny $18,600. - Paid $1,000 fee for a salesperson to attend a seminar in July. - Paid three months (May through July) of property taxes on its factory building, $15,000, - Paid a $10,000 bonus to the company president for his performance during May. - Accrued $20,000 of utility costs, of which 40 percent was for the headquarters and the remain. der was for the factory. a. What expired period costs are associated with the May information? b. What unexpired period costs are associated with the May information? c. What product costs are associated with the May information? d. Discuss why the product cost cannot be described specifically as expired or unexpired in this situation. E2-22. Financial statement classification Babineaux Company for insurance of company in May: - Paid a six-month (May through October) premium for insurance of company headquarteny $18,600. - Paid $1,000 fee for a salesperson to attend a seminar in July. - Paid three months (May through July) of property taxes on its factory building, $15,000, - Paid a $10,000 bonus to the company president for his performance during May. - Accrued $20,000 of utility costs, of which 40 percent was for the headquarters and the remain. der was for the factory. a. What expired period costs are associated with the May information? b. What unexpired period costs are associated with the May information? c. What product costs are associated with the May information? d. Discuss why the product cost cannot be described specifically as expired or unexpired in this situation