The Giga Company Produces Tablet Computers

question 52

Essay

The Giga Company produces tablet computers.The following information is provided: Required:
Classify each of the company's costs as a period cost (general,selling,and administrative cost)or as a direct or indirect product cost.Enter the dollar amount of the cost in the appropriate column.After entering all amounts,calculate the total general,selling,and administrative cost,the total direct product cost,and the total indirect product cost. $$\begin{array} { | l | l | l | l | } \hline { \text { Item } } & \text { Period cost } & \text { Direct product cost } & \text { Indirect product cost } \\\hline \text { a) } & & & \\\hline \text { b) } & & & \\\hline \text { c) } & & & \\\hline \text { d) } & & & \\\hline \text { e) } & & & \\\hline \text { f) } & & & \\\hline \text { g) } & & & \\\hline \text { h) } & & & \\\hline \text { i) } & & & \\\hline \text { i) } & & & \\\hline \text { k) } & & & \\\hline \text { l) } & & & \\\hline \text { m) } & & & \\\hline \text { Total } & & & \\\hline\end{array}$$

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Definitions:

Supply Price

The price at which producers are willing to sell a product, which typically varies in direct relation to the quantity supplied.

Quota Limit

A restriction on the amount or number of a particular good that can be imported or exported.

Ceiling Price

It is a legally imposed maximum price on a good or service, intended to prevent prices from rising above a certain level.

Demand Price

The maximum price at which a consumer is willing to buy a specific quantity of a good.