Marquess Corporation has provided the following partial listing of costs incurred during May: Marketing salaries $ 39,000 Property taxes, factory $ 8,000 Administrative travel $ 102,000 Sales commissions $ 73,000 Indirect labor $ 31,000 Direct materials $ 197,000 Advertising $ 145,000 Depreciation of production equipment $ 39,000 Direct labor $ 78,000 Required: a. What is the total amount of product cost listed above? b. What is the total amount of period cost listed above?
Marquess Corporation has provided the following partial listing of costs incurred during May: Marketing salaries $ 39,000 Property taxes, factory $ 8,000 Administrative travel $ 102,000 Sales commissions $ 73,000 Indirect labor $ 31,000 Direct materials $ 197,000 Advertising $ 145,000 Depreciation of production equipment $ 39,000 Direct labor $ 78,000 Required: a. What is the total amount of product cost listed above? b. What is the total amount of period cost listed above?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Marquess Corporation has provided the following partial listing of costs incurred during May:
| Marketing salaries | $ 39,000 |
|---|---|
| Property taxes, factory | $ 8,000 |
| Administrative travel | $ 102,000 |
| Sales commissions | $ 73,000 |
| Indirect labor | $ 31,000 |
| Direct materials | $ 197,000 |
| Advertising | $ 145,000 |
| $ 39,000 | |
| Direct labor | $ 78,000 |
Required:
a. What is the total amount of product cost listed above?
b. What is the total amount of period cost listed above?
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