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The Giga Company produces tablet computers. The following information is provided: a) Materials used b) Advertising $ 218,400 $ 42,400 c) Insurance, factory d) Administrative salaries e) Property taxes, factory f) Utilities, administrative building g) Factory labor h) Sales commissions i) Factory supervisor's salary j) Research and development k) Depreciation, factory 1) Depreciation, office m) Indirect materials Item a) b) c) d) e) f) g) h) 1) D) k) 1) Required: Classify each of the company's costs as a period cost (general, selling, and administrative cost) or as a direct or indirect product cost. Enter the dollar amount of the cost in the appropriate column. After entering all amounts, calculate the total general, selling, and administrative cost, the total direct product cost, and the total indirect product cost. m) Total Period cost Direct product cost $ 22,400 $ 52,400 $ 14,400 Indirect product cost $ 24,400 $ 82,400 $58,400 $ 62,400 $ 20,400 $ 14,400 $ 10,400 $ 16,400

The Giga Company produces tablet computers. The following information is provided: a) Materials used b) Advertising $ 218,400 $ 42,400 c) Insurance, factory d) Administrative salaries e) Property taxes, factory f) Utilities, administrative building g) Factory labor h) Sales commissions i) Factory supervisor's salary j) Research and development k) Depreciation, factory 1) Depreciation, office m) Indirect materials Item a) b) c) d) e) f) g) h) 1) D) k) 1) Required: Classify each of the company's costs as a period cost (general, selling, and administrative cost) or as a direct or indirect product cost. Enter the dollar amount of the cost in the appropriate column. After entering all amounts, calculate the total general, selling, and administrative cost, the total direct product cost, and the total indirect product cost. m) Total Period cost Direct product cost $ 22,400 $ 52,400 $ 14,400 Indirect product cost $ 24,400 $ 82,400 $58,400 $ 62,400 $ 20,400 $ 14,400 $ 10,400 $ 16,400

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The Giga Company produces tablet computers. The following information is provided: a) Materials used b) Advertising $ 218,400 $ 42,400 c) Insurance, factory d) Administrative salaries e) Property taxes, factory f) Utilities, administrative building g) Factory labor h) Sales commissions i) Factory supervisor's salary j) Research and development k) Depreciation, factory 1) Depreciation, office m) Indirect materials a) b) c) d) e) f) g) h) 1) D) k) 1) Required: Classify each of the company's costs as a period cost (general, selling, and administrative cost) or as a direct or indirect product cost. Enter the dollar amount of the cost in the appropriate column. After entering all amounts, calculate the total general, selling, and administrative cost, the total direct product cost, and the total indirect product cost. Item m) Total Period cost Direct product cost $ 22,400 $ 52,400 Indirect product cost $ 14,400 $ 24,400 $82,400 $58,400 $ 62,400 $ 20,400 $ 14,400 $ 10,400 $ 16,400
Transcribed Image Text:The Giga Company produces tablet computers. The following information is provided: a) Materials used b) Advertising $ 218,400 $ 42,400 c) Insurance, factory d) Administrative salaries e) Property taxes, factory f) Utilities, administrative building g) Factory labor h) Sales commissions i) Factory supervisor's salary j) Research and development k) Depreciation, factory 1) Depreciation, office m) Indirect materials a) b) c) d) e) f) g) h) 1) D) k) 1) Required: Classify each of the company's costs as a period cost (general, selling, and administrative cost) or as a direct or indirect product cost. Enter the dollar amount of the cost in the appropriate column. After entering all amounts, calculate the total general, selling, and administrative cost, the total direct product cost, and the total indirect product cost. Item m) Total Period cost Direct product cost $ 22,400 $ 52,400 Indirect product cost $ 14,400 $ 24,400 $82,400 $58,400 $ 62,400 $ 20,400 $ 14,400 $ 10,400 $ 16,400
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The Giga Company produces tablet computers. The following Information is provided: a) Materials used $ 218,400 b) Advertising $ 42,400 $ 22,400 $ 52,400 $ 14,400 $ 24,400 24,488 $ 82,400 c) Insurance, factory d) Administrative salaries e) Property taxes, factory f) Utilities, administrative building g) Factory labor h) Sales commissions 1) Factory supervisor's salary 1) Research and development k) Depreciation, factory 1) Depreciation, office m) Indirect materials. Required: Classify each of the company's costs as a period cost (general, selling, and administrative cost) or as a direct or Indirect product cost. Enter the dollar amount of the cost in the appropriate column. After entering all amounts, calculate the total general, selling, and administrative cost, the total direct product cost, and the total Indirect product cost. Item a) b) c) d) e) 2 f) g) h) i) li) k) 1) m) Total > Answer is complete but not entirely correct. Direct product cost 216,000 s $ Period cost 0 $ 40,000 X 0♥ 50,000 X 0♥ 22,000 X 0 56,000 X 0♥ 0♥ 0✔ 0 80,000 X 0 18,000 X 0 8,000 X 0 S 194.000 $ 298,000 Is 0✔ 00 0✔ 0✔ 0♥ Indirect product cost 00 00 20,000 X 09 12,000 X $ 58,400 $ 62,400 $ 20,400 $ 14,400 $ 10,400 $ 16,400 00 0♥ 0 60,000 x 0 12,000 X 00 14,000x 118,000
Transcribed Image Text:The Giga Company produces tablet computers. The following Information is provided: a) Materials used $ 218,400 b) Advertising $ 42,400 $ 22,400 $ 52,400 $ 14,400 $ 24,400 24,488 $ 82,400 c) Insurance, factory d) Administrative salaries e) Property taxes, factory f) Utilities, administrative building g) Factory labor h) Sales commissions 1) Factory supervisor's salary 1) Research and development k) Depreciation, factory 1) Depreciation, office m) Indirect materials. Required: Classify each of the company's costs as a period cost (general, selling, and administrative cost) or as a direct or Indirect product cost. Enter the dollar amount of the cost in the appropriate column. After entering all amounts, calculate the total general, selling, and administrative cost, the total direct product cost, and the total Indirect product cost. Item a) b) c) d) e) 2 f) g) h) i) li) k) 1) m) Total > Answer is complete but not entirely correct. Direct product cost 216,000 s $ Period cost 0 $ 40,000 X 0♥ 50,000 X 0♥ 22,000 X 0 56,000 X 0♥ 0♥ 0✔ 0 80,000 X 0 18,000 X 0 8,000 X 0 S 194.000 $ 298,000 Is 0✔ 00 0✔ 0✔ 0♥ Indirect product cost 00 00 20,000 X 09 12,000 X $ 58,400 $ 62,400 $ 20,400 $ 14,400 $ 10,400 $ 16,400 00 0♥ 0 60,000 x 0 12,000 X 00 14,000x 118,000
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