ACCT 211-Trak Corporation incurred the following costs while manufacturing
by | Mar 18, 2020 | Uncategorized
Exercise 15-3 (Essay)
Trak Corporation incurred the following costs while manufacturing its bicycles.
Bicycle components |
$100,000 |
Advertising expense |
$45,000 |
Depreciation on plant |
60,000 |
Property taxes on plant |
14,000 |
Property taxes on store |
7,500 |
Delivery expense |
21,000 |
Labor costs of assembly-line workers |
110,000 |
Sales commissions |
35,000 |
Factory supplies used |
13,000 |
Salaries paid to sales clerks |
50,000 |
(b)
Explain the basic difference in accounting for product costs and period costs.
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