Financial statement classification
Babineaux Company incurred the following costs in May 2013:
Paid a six-month (May through October) premium for insurance of company headquarters, $18,600.
Paid $1,000 fee for a salesperson to attend a seminar in July.
Paid three months (May through July) of property taxes on its factory building, $15,000.
Paid a $10,000 bonus to the company president for his performance during May 2013.
Accrued $20,000 of utility costs, of which 40 percent was for the headquarters and the remainder was for the factory.
a. What expired period costs are associated with the May information?
$
b. What unexpired period costs are associated with the May information?
$
c. What product costs are associated with the May information?
$