Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat 1. Plastic for casing-$20,000 2. Wages of assembly workers-$89,000 3. Property taxes on factory-$6,000 4. Office accounting salaries-$39,000 5. Drum stands-$35,000 6. Rent cost of office for accountants-$48,000 7. Office management salaries-$210,000 8. Annual fee for factory maintenance-$16,000 9. Sales commissions-$21,000 10. Factory machinery depreciation, straight-line-$41,000 Costs Required: 1. Classify each cost and its amount as either product or period. The first cost is completed as an example. Costs 1. Plastic for casing 2. Wages of assembly workers 3. Property taxes on factory 4. Office accounting salaries 5. Drum stands 6. Rent cost of office for accountants 7. Office management salaries 8. Annual fee for factory maintenance 9 Sales commissions 10 Factory machinery depreciation, straight-line $ Product 20,000 Period

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat.
1. Plastic for casing-$20,000
2. Wages of assembly workers-$89,000
3. Property taxes on factory-$6,000
4. Office accounting salaries-$39,000
5. Drum stands-$35,000
6. Rent cost of office for accountants-$48,000
7. Office management salaries-$210,000
8. Annual fee for factory maintenance $16,000
9. Sales commissions-$21,000
10. Factory machinery depreciation, straight-line-$41,000
Costs
Required:
1. Classify each cost and its amount as either product or period. The first cost is completed as an example.
Costs
1. Plastic for casing
2. Wages of assembly workers
3. Property taxes on factory
4. Office accounting salaries
5. Drum stands
6. Rent cost of office for accountants
7. Office management salaries
8. Annual fee for factory maintenance
9 Sales commissions
10 Factory machinery depreciation, straight-line i
$
Product
20,000
Period
Transcribed Image Text:Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat. 1. Plastic for casing-$20,000 2. Wages of assembly workers-$89,000 3. Property taxes on factory-$6,000 4. Office accounting salaries-$39,000 5. Drum stands-$35,000 6. Rent cost of office for accountants-$48,000 7. Office management salaries-$210,000 8. Annual fee for factory maintenance $16,000 9. Sales commissions-$21,000 10. Factory machinery depreciation, straight-line-$41,000 Costs Required: 1. Classify each cost and its amount as either product or period. The first cost is completed as an example. Costs 1. Plastic for casing 2. Wages of assembly workers 3. Property taxes on factory 4. Office accounting salaries 5. Drum stands 6. Rent cost of office for accountants 7. Office management salaries 8. Annual fee for factory maintenance 9 Sales commissions 10 Factory machinery depreciation, straight-line i $ Product 20,000 Period
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