Work and answer the following problems, showing all work where applicable:
1. Use the correct number to designate each item below.
1. direct materials
2. selling and general expenses
3. manufacturing overhead
4. direct labor
A) _________ Rent expense on factory building
B) _________ Sales supplies used
C) _________ Factory supplies used
D) _________ Indirect materials used
E) _________ Wages of assembly line personnel
F) _________ Cost of primary material used to make product
G) _________ Depreciation on office equipment
H) _________ Rent on office facilities
I) _________ Insurance expired on factory equipment
J) _________ Utilities incurred in the office
K) _________ Advertising expense
L) _________ Taxes paid on factory building
2. Devin’s Dufflebags sells camping equipment. Sales Revenue for January 2009 totaled $55,400. Other information included:
Selling Expenses 15,360
Beginning Merchandise Inventory 7,200
Ending Merchandise Inventory 5,780
Depreciation on building 340
1.Prepare the income statement for that month.
2.What is the Cost of Goods Available for Sale?
3.What are the total period costs?