Question 1 3 4 7 8 9 Within the accounting system of a group of companies, the following types of expenses are incurred. Reference Types of expenses number 1 Costs of opening a new facility 2 Costs of conducting business in a new location or with a new class of customer (including costs of staff training) Costs of site preparation Costs of testing whether the asset is functioning properly 5 Electrical installation costs 6 Costs of dismantling and removing the item and restoring the site on which it is located Administration costs Import duty of an imported machine Purchase of a five-year maintenance contract with Plant 10 Legal fees for sales and purchase agreement for acquisition of land 11 Interest on loan on a self constructed property after the asset is ready for use 12 Architect fees incurred for self constructed building 13 General overheads incurred for self constructed building 14 Commission paid for disposal of property 15 Cost relating to formal opening of new factory 16 Direct labour cost for construction of buildings Required: Complete the following table by placing each expense in the correct cost classification. Cost Classification Reference Number Cost of property, plant and equipment Revenue expenses [8 marks] 4