Question

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Answer 1

Costs Factory Rent Company advertising Wages paid to assembly workers Dep. for salesperson's vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters Classification Catego Product Period Product Period Product Product Product Product Period Product Product Period Product Product Product MOH NA DL NA MOH MOH MOH MOH NA DM MOH NA MOH MOH DL NOTE Product costs are those costs incurred at factory whether directly or indirectly related to producing products. If material costs are incurred which are directly attributable to product, they are called as direct materials. If labor costs are incurred which are directly attributable to product, they are called as direct labors. All other indirect costs incurred at the production process are called as manufacturing overheads. All direct and indirect costs incurred in the product production process (at factory) are the products. All other costs, other than product costs, are called period costs which are not related to production process