Classify Each of the Following Business Costs into One of the Six

question 34

Essay

Classify each of the following business costs into one of the six value chain elements.
A. cost of a commercial during a TV program
B. cost of shipping goods to customers
C. costs associated with repairing products under warranty
D. costs of developing a new product
E. cost of making a prototype of a new product
F. cost of labor for machine operator in factory

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to update the accounts and ensure that the correct amounts are reported in the financial statements.

Reports Menu

A feature in accounting or business software that allows users to generate and view various financial and operational reports.

General Journal Entries

Accounting entries recorded in the general journal that document business transactions not handled by specialized journals.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments, used to verify the balance of debits and credits and to prepare financial statements.