Exercise 1-7B Product versus general, selling, and administrative costs In reviewing Quartey Company

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Exercise 1-7B Product versus general, selling, and administrative costs

In reviewing Quartey Company’s September accounting records, Ken Helm, the chief accountant, noted the following depreciation costs.

  1. Factory buildings—$25,000.
  2. Computers used in manufacturing—$4,000.
  3. A building used to display finished products—$8,000.
  4. Trucks used to deliver merchandise to customers—$14,000.
  5. Forklifts used in the factory—$22,000.
  6. Furniture used in the president’s office—$9,000.
  7. Elevators in administrative buildings—$6,000.
  8. Factory machinery—$9,000.

Required

  1. What amount of depreciation cost would be classified as general, selling, and administrative expense?
  2. Assume that Quartey manufactured 3,000 units of product and sold 2,000 units of product during the month of September. Determine the amount of depreciation cost that would be included in cost of goods sold.
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