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Determine whether each cost is a product cost or period cost

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Reference no: EM132474244

Question 1: Maureen Shelley is controller of Optus Communications. Optus manufacturers cell phones. She has prepared a list of typical costs incurred by the business. Review the list and determine whether each cost is a product cost or period cost. For product costs, further classify the cost as direct material, direct labor, or factory overhead.

 

Product or Period

Direct Material Direct Labor

Factory Overhead

Deprecation of machinery used in factory

 

 

Commissions paid to sales force

 

 

Annual inspection of factory fire extinguishers

 

 

Plastic used to mold phones

 

 

Maureen's salary

 

 

Reprogramming of automated assembly line

 

 

Salary of phone touchscreen installers

 

 

Depreciation of office computers

 

 

Computer chips installed in phones

 

 

Pads used to buff and shine touchscreens

 

 

Rental of mold for newest model phone

 

 

Landscape service for corporate office

 

 

Salary of quality control inspectors

 

 

Shipping costs for units sold

 

 

Reference no: EM132474244

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