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Requirement 1. For a manufacturing company, identify the following as either a product cost or a period cost: Product cost a. Depreciation on plant equipment b. Depreciation on salespersons' automobiles c. Insurance on plant building Period cost Product cost Period cost Product cost d. Marketing manager's salary e. Direct materials used Product cost f. Manufacturing overhead Period cost g. Electricity bill for human resources office Product cost h. Production employee wages Requirement 2. Show how to compute cost of goods manufactured. Use the following amounts: direct materials used, $24,000; direct labor, $9,000; manufacturing overhead, $17,000; beginning Work-in-Process Inventory, $5,000; and ending Work-in-Process Inventory, $4,000. Cost of Goods Manufactured Direct Materials Used Direct Labor Manufacturing Overhead Beginning Work-in-Process Inventory Total Manufacturing Costs Incurred during Period Total Manufacturing Costs to Account For Cost of Goods Manufactured 9000 17000 5000 24000 51000

Requirement 1. For a manufacturing company, ident5y the folowing as either a product cost or a peried cost: Produet cont a. Dopreciation on plant equipment Period oost b. Depreciation on salespersons' automcbiles Product cost c. insurance on plant bulding Prood cost d. Marketing manager's salary Product cost c. Drect materials used Product cost t. Manufacturing overhead Pedod cost 0. Electricity bill for human rescurces office Product cost h. Production employee wages Requirement 2. Show how to compute cost of goods manufactured. Use the following amounts: direct materials used, \$24,000; direct labor, $9,000; manufacturing overthead, $17,000; Reguinning Work-in-Process inventory, $5,000; and ending Wadk-in-Procoss inventory, $4,000

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