. Consider the cost items 1 through 9 below: Evaluate the costs below and determ

Question

. Consider the cost items 1 through 9 below:

Evaluate the costs below and determine whether the associated dollar amounts would appear on the firm's (B/S) balance sheet, (P&L) income statement, or (COGM) schedule of cost of goods manufactured.

Identify the statement indicated by marking the line with (B/S), (P&L) or (COGM) in the space provided:

                                                                                                                             A. Answers

1. Sales commissions earned by a company's sales force.                               __________________

2. Raw materials purchased during the period.                                              __________________

3. Current year's depreciation on a firm's manufacturing facilities.                ___________________

4. Year-end completed production of a carpet manufacturer.                        ___________________

5. The cost of products sold to customers of an apparel store.                       ___________________

6. Wages earned by machine operators in a manufacturing plant.                  ___________________

7. Income taxes incurred by an airline.                                                           ___________________

8. Marketing costs of an electronics manufacturer.                                        ___________________                     

9. Indirect labor costs incurred by a manufacturer of office equipment.       ___________________

Explanation / Answer

1. P&L

2. COGM

3. COGM

4. COGM

5. P&L

6. COGM

7. P&L

8. P&L

9. COGM

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