Question
In: Accounting
Sobota Corporation has provided the following partial listing of costs incurred during August: Marketing salaries $...
Sobota Corporation has provided the following partial listing of costs incurred during August:
Marketing salaries $ 54,500
Property taxes, factory $ 12,500
Administrative travel $ 103,400
Sales commissions $ 53,800
Indirect labor $ 43,700
Direct materials $ 171,900
Advertising $ 140,300
Depreciation of production equipment $ 41,400
Direct labor $ 93,400
a. What is the total amount of product cost listed above?
b. What is the total amount of period cost listed above?
Solutions
Expert Solution
a) Product costs are those costs which are included in the cost of a product. These costs include direct materials, direct labor and manufacturing overhead expenses.
Total amount of product cost listed above
= Factory property taxes+Indirect labor+Direct materials+Depreciation+Direct Labor
= $12,500+$43,700+$171,900+$41,400+$93,400 = $362,900
b) Period costs are those costs which do not form part of the cost of units produced and incurred on the basis of the period. (For example per month, per year etc)
Total amount of period cost listed above
= Salaries+Admn Travel+Sales Commissions+Advertising
= $54,500+$103,400+$53,800+$140,300 = $352,000
ekkarill92 answered 2 years agoRelated Solutions
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