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PROBLEM 1 Identifying product versus general, selling, and administrative costs Required Indicate whether each of the following costs should be classified as a product cost
PROBLEM 1Identifying product versus general, selling, and administrative costs
Required
Indicate whether each of the following costs should be classified as a product cost(PC)or as a general, selling, and administrative cost(GS&A).
- __PC____Direct materials used in a manufacturing company.
- __PC____Overhead used in a manufacturing company.
- _GSA_____Salaries of administrative assistants.
- _GSA_____Paid utilities to Administration Department.
- _GSA_____The purchases of a school supply store.
- _GSA_____Research and development costs incurred to create new product.
- __PC____Wages of Production Department.
- __GSA____Cost of manager supplies used in a retail office.
- _GSA_____Depreciation of the office furniture.
- __PC____Depreciation of manufactured equipment.
i WOULD LIKE TO SEE IF MY ANSWER ARE CORRECT.
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