A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used 48,000 Direct labor 165,000 Manufacturing overhead 95,000 Selling costs Fixed costs: 86,000 Manufacturing overhead 250,000 Selling costs 100,000 Administrative costs 223,000 In addition, the company suffered a $15,200 uninsured factory fire loss during the year. What were the product costs and period costs for last year?
A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used 48,000 Direct labor 165,000 Manufacturing overhead 95,000 Selling costs Fixed costs: 86,000 Manufacturing overhead 250,000 Selling costs 100,000 Administrative costs 223,000 In addition, the company suffered a $15,200 uninsured factory fire loss during the year. What were the product costs and period costs for last year?
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:A review of accounting records for last year disclosed the following selected information:
Variable costs:
Direct materials used
48,000
Direct labor
165,000
Manufacturing overhead 95,000
Selling costs
Fixed costs:
86,000
Manufacturing overhead 250,000
Selling costs
100,000
Administrative costs
223,000
In addition, the company suffered a $15,200 uninsured factory fire loss during the year.
What were the product costs and period costs for last year?
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