Question
Omega Pharmaceuticals Inc. reported the following for the year: Legal and professional fees: $1,900,000 Rent for office and labs: $2,700,000 Interest on bank loans: $2,200,000
Omega Pharmaceuticals Inc. reported the following for the year:
Legal and professional fees: $1,900,000
Rent for office and labs: $2,700,000
Interest on bank loans: $2,200,000
Loss on write-off of obsolete inventory: $350,000
Freight in: $1,600,000
Freight out: $1,850,000
Executive compensation: $2,300,000
Health and safety insurance: $1,000,000
Sales representatives' salaries: $2,600,000
Research expenses: $1,400,000
Promotional activities: $1,500,000
The office space is used equally by sales and research departments.
Requirements:
Compute the amount classified as general and administrative expenses.
Determine the total sales and marketing expenses.
Calculate the total financial and interest-related expenses.
Identify and compute the total research-related expenses.
Calculate the overall total expenses incurred by Omega Pharmaceuticals.
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