Classifying costs: product or G, S, & A/asset or expense
Required
Use the following format to classify each cost as a product cost or a general, selling, and administrative (G, S, & A) cost. Also indicate whether the cost would be recorded as an asset or an expense. The first item is shown as an example.
Product/
Asset/
Cost Category
G, S, & A
Expense
Production supplies
Product
Asset
Depreciation on administration building
Depreciation on manufacturing equipment
Research and development costs
Cost to set up manufacturing equipment
Utilities used in factory
Cars for sales staff
Distributions to stockholders
General office supplies
Raw materials used in the manufacturing process
Cost to rent office equipment
Wages of production workers
Advertising costs
Promotion costs
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