EXERCISES TIVE Exercise 2-27 Cost Assignmentned The sales staff of Central Media (a locally owned radio two a rek and Lawanna. During March, the following salaries and commissi staff of Central Media (a locally owned radio and cable television station) consi salespeople, Derek and Lawanna. During Marc Derek $25,000 were paid: Lawanna Salaries Commissions $30,000 1,500 6,000 spends 100% of his time selling advertising Lawanna spends two-thirds of her time selling ising and the remaining one-third on administrative work. Commissions are paid only on sales. Derek Required: 1. Accumulate these costs by account by filling in the following table: Cost Salaries Commissions Derek Lawanna Total 2. Assign the costs of salaries and commissions to selling expense and administrative expense by filling in the following table: Cost Selling Costs Administrative Costs Derek's salary Lawanna's salary Derek's commissions Lawanna s commissions Total