The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company.

Required
1. Classify each cost as either a product or period cost.
2. Classify each product cost as either direct materials, direct labor, or factory overhead.
3. Classify each period cost as either selling expenses or general and administrative expenses.

Transcribed Image Text:

S 28,750 Miscellaneous production costs $ 8,425 63,000 925,000 22,000 26,100 76,800 35,400 4,462,500 392,560 Advertising expense Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor 7,250 8,600 33,550 102,600 7,350 33,000 Office salaries expense. Raw materials purchases Rent expense-Office space Rent expense-Selling space Rent expense-Factory building. Maintenance expense-Factory equipment 675,480 Sales 56,875 Sales salaries expense