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Classify the Following Costs as Either a Product Cost or a Period

Question 175

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Classify the following costs as either a product cost or a period cost:

Premises:
salespersons’ commissions
advertising expense
plant insurance expired
indirect labor incurred
salary of plant manager
indirect materials used
factory utilities
factory machinery repairs and maintenance
depreciation on factory machinery
direct materials used
direct labor incurred
depreciation on store equipment
Responses:
period cost
product cost

Correct Answer:

salespersons’ commissions
advertising expense
plant insurance expired
indirect labor incurred
salary of plant manager
indirect materials used
factory utilities
factory machinery repairs and maintenance
depreciation on factory machinery
direct materials used
direct labor incurred
depreciation on store equipment
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