The Giga Company produces tablet computers. The following information is provided:a) Materials used$216,000$40,000$20,000$50,000$12,000$22,000$80,000$56,000$60,000$18,000$12,000$8,000$14,000b) Advertisingc) Insurance, factoryd) Administrative salariese) Property taxes, factoryf) Utilities, administrative buildingg) Factory laborh) Sales commissionsi) Factory supervisor's salaryj) Research and developmentk) Depreciation, factory1) Depreciation, officem) Indirect materialsClassify each of the company's costs as a period cost (general, selling, and administrative cost) or as a direct or indirectproduct cost. Enter the dollar amount of the cost in the appropriate column. After entering all amounts, calculate the totalgeneral, selling, and administrative cost, the total direct product cost, and the total indirect product cost. a)b)c)d)ଟସରସe)1)1)k)1)m)TotalItemPeriod costDirect product costIndirect product cost

Product costs are those expenses directly associated with creating an item or service that will be…

The Giga Company produces tablet computers. The following information is provided: a) Materials used $216,000 b) Advertising 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 $40,000 $20,000 $50,000 $12,000 $22,000 $80,000 $56,000 $60,000 $18,000 $12,000 $8,000 $14,000 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.

The Giga Company produces tablet computers. The following information is provided: a) Materials used $216,000 b) Advertising 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 $40,000 $20,000 $50,000 $12,000 $22,000 $80,000 $56,000 $60,000 $18,000 $12,000 $8,000 $14,000 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.

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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