I need all parts of this questions answered Marquess Corporation has provided the following partial listing of costs incurred during May: Marketing salaries$ 39,000Property taxes, factory$ 8,000Administrative travel$ 102,000Sales commissions$ 73,000Indirect labor$ 31,000Direct materials$ 197,000Advertising$ 145,000Depreciation of production equipment$ 39,000Direct 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?

The product costs are the costs that are directly related to the production. The period costs are…

Answered: Marquess Corporation has provided the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I need all parts of this questions answered

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?

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