37)LO.1-Lo.3(cost classifications) Joe Reynolds painted four houses during April 2013. For these jobs, he spent s2,400 on paint, s160 on mineral spirits, and s300 on brushes. He also bought two pairs of coveralls for $100 each; he wears coveralls only while he works. During the first week of April, Reynolds placed a $200 ad for his business in the classifieds. He hired an assistant for one of the painting jobs; the was paid $25 per hour and worked 50 hours
Being a very methodical person, Reynolds kept detailed records of his mileage to and from each painting job. The average operating cost per mile his van He found a S30 receipt in his van for a metropolitan map that he purchased in April. He uscs the map as part of a contact file for referral work and for bids that he has made on potential jobs. He also had S30 in receipts for bridge t(S2 per trip) for a paint- ing job he completed across the river. Near the end of April, Reynolds decided to go camping, and he turned down a job which he had bid $6,000. He called the homeowner long distance(at a cost of S2.20) to explain his reasons for declining the job. Using the following headings, indicate how to classify each of the April costs incurred by Reynolds. Assume that the cost object is a house-painting job.