Larkspur Company reports the following costs and expenses in May.Factory utilities $16,000 Direct labor $72,080Depreciation on factory equipment 13,120 Sales salaries 47,920Depreciation on delivery trucks 4,240 Property taxes on factory building 2,600Indirect factory labor 51,120 Repairs to office equipment 1,400Indirect materials 83,840 Factory repairs 2,080Direct materials used 143,680 Advertising 15,600Factory manager’s salary 8,800 Office supplies used 2,710From the information: Determine the total amount of period costs.Period costs$

Period costs mean costs other than the product costs. These costs are not incurred on the production…

Answered: Larkspur Company reports the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Larkspur Company reports the following costs and expenses in May.

Factory utilities	$16,000	Direct labor	$72,080
Depreciation on factory equipment	13,120	Sales salaries	47,920
Depreciation on delivery trucks	4,240	Property taxes on factory building	2,600
Indirect factory labor	51,120	Repairs to office equipment	1,400
Indirect materials	83,840	Factory repairs	2,080
Direct materials used	143,680	Advertising	15,600
Factory manager’s salary	8,800	Office supplies used	2,710

From the information:

Determine the total amount of period costs.
Period costs
$

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