Question 1 Not yet answered Points out of 36.00 The following information is obtained from the records of ABC company: 1. On January 1, 2017 the following machines were acquired for cash: Production machines costs Marketing machines costs Administrative machines costs $ 6,000 $3,000 $1,500 The expected useful life of all machines is five years, no salvage value, and the straight-line method. 2. On January 2, the firm purchased for cash raw materials at cost of $5,000. 3. On January 3, the following materials were issued for use: $2,000 to production departments $500 to marketing department $ 250 to administrative departments 4. On January 14, the company paid the payroll: $3,000 Production payroll $2,000 Marketing payroll $1,500 Administrative payroll 5. On January 18, the firm paid the following expenses: $ 500 Rent for production departments 300 Rent for marketing department 200 Rent for administrative departments $ $ $ 300 Rent for marketing department $ 200 Rent for administrative departments 6. Cash sales during January were $15,000. 7. Raw material of $100 was destroyed by a fire. Required: Use the above information to compute the following amounts on January 31, 2017 (one month ONLY). Each question worth 4 points. If your answer is negative number put (-) before it. If your answer is $0 put (0). 1. How much is the amount of cost Based on the broad definition of cost? 2. How much is the amount of expired cost? 3. How much is the amount of unexpired cost? 4. How much is the amount of Product cost? 5. How much is the amount of Period cost? 6. How much is the amount of Loss? 7. How much is the Gross Profit? 8. How much is Net Income from operation? 9. How much is Net Income Before Tax