Match type of company with product and period costs [5 min]
Consider the following costs:
Type of cost: | Type of company that reports this cost on its income statment | ||
Advertising costs | Manuf | Merch | Serv |
1. Cost of goods manufactured |
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2. The CEO’s salary |
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3. Cost of goods sold |
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4. Building rent expense |
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5. Customer service expense |
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Requirement
1. For each of the costs, indicate if the cost would be found on the income statement of a service company (Serv), a merchandising company (Merch), and/or a manufacturing company (Manuf). Some costs can be found on the income statements of more than one type of company.
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