Homework Answers
Product cost are cost that are incurred to manufacture a product whereas period cost are cost incurred to made product ready for sell.
All cost incurred till factory point is a part of product cost (Direct material ,Direct labor and factory overhead ) whereas all selling ,general and administrative cost are period cost.
| Product cost | Period cost | ||||
| Direct material | Direct labor | overhead | selling | Administrative cost | |
| supervisor salaries | 300000 | ||||
| Indirect Labor | 125000 | ||||
| Raw material transferred in to production | 700000 | ||||
| cost of glues and screws | 35000 | ||||
| selling cost | 500000 | ||||
| Direct labor | 3300000 | ||||
| General and administrative cost | 550000 | ||||
| Depreciation of factory equipment | 75000 | ||||
| Other factory overhead | 300000 | ||||
| Total | 700000 | 3300000 | 835000 | 500000 | 550000 |
| Total manufacturing cost |
700000+3300000+835000 = 4835000 |
||||
| cost per table | 4835000/500 =$ 9670 per table | ||||
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the product costs for the direct materials, direct labor, and overhead. Then the period costs for...
the
product costs for the direct materials, direct labor, and overhead.
Then the period costs for selling and admin. Then the totals
highlighted in yellow and the total manufacturing costs. also the
cost per table
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the
product costs for the direct materials, direct labor, and overhead.
Then the period costs for selling and admin. Then the totals
highlighted in yellow and the total manufacturing costs. also the
cost per table
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