On the next page, classify each the costs listed below as the product cost AND a

Question

On the next page, classify each the costs listed below as the product cost AND as a direct materials, direct labor,

2. On the next page, classify each of the costs listed below as a produet cost or period cost AND as a direct materials, direct labor, factory overhead, selling. or administrative cost. The first one has been done for you as an example (a) Rent for a warchouse used to store work in process and finished products produot cost (b) Depreciation of copying machines used by the Marketing De (e) Maintenance costs for factory equipment (a) Fees charged by collection ageney on past-due customer accounts (e) Surgeon's fee for heart bypass surgery ?Cost of 30-second television coinmercial (g) Telephone charges by president's office (h) Travel costs of marketing executives to annual sales meeting i) Cost of plastic for a telephone being manufactured ü) Pens, paper, and other supplies used by the Accounting Department in preparing various managerial reports (k) Charitable contribution to United Fund (1) Depreciation of tools used in production Im) Cost of fabric used by clothing manufacturer (n) Depreciation of robot used to assemble a product (o) Wages of a machine operator on the production line (p) Salary of the vice president of manufacturing operations (4) Factory janitorial supplies (r) Maintenance and repair costs for factory equipment (s) Electricity used to operate factory machinery ) Oil lubricants for factory plant and equipment (u) Cost of sewing machine needles used by a shirt manufacturer Page 7 of 10

Explanation / Answer

b) Period cost and selling cost.

c) Product cost and factory overhead.

d) Period cost and administrative cost.

e) None.

f) Product cost and selling cost.

g) Period cost and administrative cost.

h) Period cost and selling cost.

i) Product cost and direct material cost.

j) Period cost and administrative cost.

k) None.

l) Product cost and factory overhead.

m) Product cost and direct materials cost.

n) Product cost and factory overhead.

o) Product cost and direct labor cost.

p) Period cost and administrative cost.

q) Product cost and factory overhead.

r) Product cost and factory overhead.

s) Period cost and factory overhead.

t) Product cost and factory overhead.

u) Product cost and factory overhead.

Please provide feedback.

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