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The following is a list of costs incurred by several business organizations:
Classify each of the preceding costs as product costs or period costs.For those costs classified as product costs,indicate whether the product cost is a direct materials cost,direct labor cost,or factory overhead cost.For those costs classified as period costs,indicate whether the period cost is a selling expense or an administrative expense.Use the following tabular headings for preparing your answer.Place an X in the appropriate column.
New Jersey Plan
A proposal at the Constitutional Convention favoring a unicameral legislature with equal representation for each state, regardless of population size.
Virginia Plan
A proposal by Virginia delegates for a bicameral legislative branch during the drafting of the United States Constitution in 1787.
Declaration of Independence
A foundational document adopted on July 4, 1776, in which the thirteen American colonies declared their independence from British rule.
Revolutionary War
The Revolutionary War, also known as the American Revolution, was the conflict between thirteen American colonies and British rule that led to the formation of the United States of America after the colonies won their independence.
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