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PLEASE ANSWER VERY CLEARLY The following calendar year-end information is taken from the December 31, 2015, adjusted trial balance and other records of Best Bikes.

PLEASE ANSWER VERY CLEARLY

The following calendar year-end information is taken from the December 31, 2015, adjusted trial balance and other records of Best Bikes.

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  1. Identify and classify each of the costs above as either a product or period cost.
  2. Classify each of the product costs as either direct materials, direct labor, or factory overhead.
  3. Classify each of the period costs as either selling or general and administrative expenses.
Advertising expense. Miscellaneous production costs Office salaries expense 8,440 $20,250 Depreciation expense-Office equipment.... Depreciation expense-Slling equipment 8,440 70,875 Raw materials purchases. Rent expenseOffice space Rent expense Selling space Rent expense-Factory building.. Maintenance expense-Factory equipment 10,125 894,375 Depreciation expense Factory equipment Factory supervision 35,400 23,625 121,500 27,000 Factory supplies used Factory utilities 6,060 93,500 37,500 30,375 Direct labor.. 562,500 Sales... 4,942,625 Sales salaries expense 59,000 Indirect labor. 295,300

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