Classification of costsnbspthe following costs were taken, Ask an Expert

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Classification of Costs The following costs were taken from the accounting records of the Barnwell Manufacturing Company:

1. State income taxes

2. Insurance on the manufacturing facilities

3. Supplies used in manufacturing

4. Wages for employees in the assembly department

5. Wages for employees who deliver the product

6. Interest on notes payable

7. Materials used in the production process

8. Rent for the sales outlet in Sacramento

9. Electricity for manufacturing equipment

10. Depreciation expense on delivery trucks

11. Wages for the sales staff

12. Factory supervisors' salaries

13. Company president's salary

14. Advertising expense

Required Classify each item as either a product cost or a period cost. Also, classify all product costs as direct or indirect, assuming that the cost object is each unit of product manufactured.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91886605

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