Question
Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] The following year-end information
Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense $ 41,000 Depreciation expense-Office equipment 20,000 Depreciation expense-Selling equipment 21,000 Depreciation expense-Factory equipment 63,000 Raw materials purchases (all direct materials) 730,000 Maintenance expense-Factory equipment 39,900 Factory utilities 35,600 Direct labor 452,000 Indirect labor Office salaries expense 68,000 41,000 Rent expense-Office space 25,000 Rent expense-Selling space 60,000 Rent expense-Factory building 144,000 Sales salaries expense 346,000 Required: Identify each cost as either a product cost or a period cost. If a product cost, classify it as direct materials, direct labor, or factory overhead. If a period cost, classify it as a selling expense or a general and administrative expense. (Leave no cell blank. Enter "NA - Not a product cost" or "NA - Not a period cost" for expenses that are not product cost or period cost.) 1. Advertising expense Costs 2. Depreciation expense-Office equipment 3. Depreciation expense-Selling equipment 4. Depreciation expense-Factory equipment 5. Raw materials purchases (all direct materials) 6. Maintenance expense-Factory equipment 7. Factory utilities 8. Direct labor 9. Indirect labor 10. Office salaries expense 11. Rent expense-Office space 12. Rent expense-Selling space 13. Rent expense-Factory building 14. Sales salaries expense Type of Product Cost Type of Period Cost
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