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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).

  1. __PC____Direct materials used in a manufacturing company.
  2. __PC____Overhead used in a manufacturing company.
  3. _GSA_____Salaries of administrative assistants.
  4. _GSA_____Paid utilities to Administration Department.
  5. _GSA_____The purchases of a school supply store.
  6. _GSA_____Research and development costs incurred to create new product.
  7. __PC____Wages of Production Department.
  8. __GSA____Cost of manager supplies used in a retail office.
  9. _GSA_____Depreciation of the office furniture.
  10. __PC____Depreciation of manufactured equipment.

i WOULD LIKE TO SEE IF MY ANSWER ARE CORRECT.

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