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HP reported the following data: Product development: $19,000,000 Office space lease: $6,200,000 Marketing expenses: $7,400,000 Executive salaries: $4,500,000 Interest on corporate loans: $3,100,000 Sales department

HP reported the following data:

  • Product development: $19,000,000
  • Office space lease: $6,200,000
  • Marketing expenses: $7,400,000
  • Executive salaries: $4,500,000
  • Interest on corporate loans: $3,100,000
  • Sales department wages: $4,200,000
  • Travel and entertainment: $1,600,000
  • Insurance premiums: $2,300,000

Requirements:

  • Calculate the total product development expenses.
  • Determine the marketing expenses.
  • Identify the total administrative expenses.

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