Reference no: EM132637632
Problem 1: Do period costs include depreciation expense if it's from equipment? What was the period cost incurred for the month of December?
20-Dec Depreciation for the month of December was recorded on equipment was $750 ($150 for equipment used in the factory and the remainder for equipment used in selling and administrative activities).
Sales
Revenue $ 32,000.00
Less: Cost of goods sold $ 10,950.00
Gross margin $ 21,050.00
Selling and administrative expenses
Advertising expenses $ 1,600.00
Salaries and wages Expenses $ 2,000.00
Depreciation expenses $ 600.00
Total expenses $ 4,200.00
Net operating income $ 16,850.00
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