Solution-How much is the general and administrative expense

How much is the general and administrative expense

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Reference no: EM132800587

Question - An entity reported the following data for the current year: Legal and audit fees, 1,250,000; Rent for office space, 1,200,000; Advertising, 750,000; Interest on inventory loan, 2,200,000; Loss on abandoned data processing equipment, 550,000; Freight in, 1,350,000; Freight-out, 1,400,000; Officers' salaries, 2,300,000; Insurance, 800,000; Sales representative salaries, 2,850,000; Research and development expense, 2,000,000. The office space is used equally by the sales and accounting departments. How much is the general and administrative expense?

a. 5,550,000

b. 7,550,000

c. 4,950,000

d. 4,150,000

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How much is the general and administrative expense

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