Question

An expanded income statement is generally divided by the different categories of revenue. the most common categories are:_________

Answer 1

An expanded income statement is generally divided by the different categories of revenue. The most common categories are sales expenses and general and admin expenses.

The selling, general, and administrative expense, or SG&A, refers to all corporate operational costs that are not accounted for in the cost of products sold. Since they raise a company's break-even point, management should exercise strict control over these expenses.

Prime costs are a company's outlay for the components used in production. The direct costs of labor and raw materials used in the production of a good are determined by the sales expenses and general and admin expenses. The direct costs of labor and raw materials used in the production of a good are determined by the prime cost.

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