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Watson Inc. is a manufacturing company operating in the southeastern United States. The company has three primary product lines, as well as several "secondary" lines. The company's controller is in the process of preparing the annual financial statements and will need to classify the following cost objects as either product costs or period costs. For each of these costs, determine the amounts that will be considered product costs versus the amounts that will be considered period costs and enter them into the appropriate column.

$\backslash$table$[[,$A$,B,$C$],[1,$Cost Object,Product Costs,Period Costs$],[2,\backslash$table$[[$Watson paid $$2\mathrm{.}5$ million in interest costs for a new$],[$debt issuance$-$the proceeds were used to fund the$],[$construction of a new manufacturing plant.$]],123,123],[3,\backslash$table$[[$Payments to SE EMC, the utilities company which$],[$provides both gas and electric to Watson, totaled$],[$$$3\mathrm{.}6$ million for the year.$]],$Click to answer,$123],[4,\backslash$table$[[$The invoice price for raw materials for the year$],[$totaled $$9,415,200,$ which included a discount of $2],[$percent off of the original purchase prices and freight$-],[$in of $$7,200.]],123,123],[,\backslash$table$[[$Watson spent $$5\mathrm{.}1$ million on advertising costs during$],[$the year, with $$350,000$ of the total representing the$],[$salaries of the staff in the promotions department.$]],123,123],[,\backslash$table$[[$Rent costs for several buildings located outside of the$],[$company$\text{'}$s main campus and used to manufacture$],[$secondary product lines totaled $$7\mathrm{.}2$ million.$]],123,123],[,\backslash$table$[[$Salaries associated with staff members in Watson's$],[$Human Resources and General Counsel$],[$departments totaled $$5\mathrm{.}9$ million.$]],123,123],[,$The company's factory workers at the main plant,$123,123]]$Scroll down to complete all parts of this task.

Watson Inc. is a manufacturing company operating in the southeastern United States. The company has three primary product lines, as well as several "secondary" lines. The company's controller is in the process of preparing the annual financial statements and will need to classify the following cost objects as either product costs or period costs. For each of these costs, determine the amounts that will be considered product costs versus the amounts that will be considered period costs and enter them into the appropriate column.

$\backslash$table$[[,$A$,B,$C$],[1,$Cost Object,Product Costs,Period Costs$],[2,\backslash$table$[[$Watson paid $$2\mathrm{.}5$ million in interest costs for a new$],[$debt issuance$-$the proceeds were used to fund the$],[$construction of a new manufacturing plant.$]],123,123],[3,\backslash$table$[[$Payments to SE EMC, the utilities company which$],[$provides both gas and electric to Watson, totaled$],[$$$3\mathrm{.}6$ million for the year.$]],$Click to answer,$123],[4,\backslash$table$[[$The invoice price for raw materials for the year$],[$totaled $$9,415,200,$ which included a discount of $2],[$percent off of the original purchase prices and freight$-],[$in of $$7,200.]],123,123],[,\backslash$table$[[$Watson spent $$5\mathrm{.}1$ million on advertising costs during$],[$the year, with $$350,000$ of the total representing the$],[$salaries of the staff in the promotions department.$]],123,123],[,\backslash$table$[[$Rent costs for several buildings located outside of the$],[$company$\text{'}$s main campus and used to manufacture$],[$secondary product lines totaled $$7\mathrm{.}2$ million.$]],123,123],[,\backslash$table$[[$Salaries associated with staff members in Watson's$],[$Human Resources and General Counsel$],[$departments totaled $$5\mathrm{.}9$ million.$]],123,123],[,$The company's factory workers at the main plant,$123,123]]$

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