Identify the product cost noted below and calculate the total amount of product cost in...
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Accounting
Identify the product cost noted below and calculate the total amount of product cost in our table manufacturing business. You must provide one sentence explaining why each is or is not a component of product costs.
- Salary of CEO $250,000
- Salary of Plant Supervisor $40,000
- Lease on manufacturing plant $15,000
- Utilities of storage facility where raw materials are stored until needed for production $5,000
- Glue use in the production of tables $1,200
- Liability insurance for protection against lawsuits by consumers $3,500
- Advertising budget to market our custom table line $7,000
- Testing cost for new product line being considered $10,000
- Wages of janitors who clean the factory floor every day at end of shift $32,000
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