*Exercise 10-4 (Part Level Submission) Knight Company reports the following costs and expenses in May. $15,500...

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*Exercise 10-4 (Part Level Submission) Knight Company reports the following costs and expenses in May. $15,500 Direct labor $

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Answer 1

Answer #1

Period cost are costs not included in product cost i.e which are not directly connected to products.Period cost are costs related with Overhead of sales, general administrative expenses.

Period costs here are depreciation on delivery trucks, sales salaries, repairs to office equipments, advertising and office supplies used.

Period cost = $3800 + $46400 + $1300 +$15000 + $2,640

= $69,140

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Answer 2

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