Homework Answers
Match Item:
| Maintenance and repair costs for factory equipment | Product costs-factory. overhead cost |
| Depreciation on office Equipment | Period Cost Administrative Expense |
| Bonuses paid to salesperson | Period Cost - Selling expense |
Explanation:
1) All the direct and indirect cost of producing a product is called as a product cost.
2) Factory equipment are used to produce a product, so it is a product cost.
3) Period cost are indirect cost that are incurred in the process of production.
4) Depreciation on office equipment and bonus paid to salesperson are not directly involved in producing a product, but these are indirect cost incurred during the process of production. Hence both these costs are periodic cost.
5) Depriciation on office equipment is administrative cost, while bonus is related to selling expense.
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