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Question
The following costs are incurred by Gonzalez Manufacturing Co. Classify each cost item as either a period cost or a product cost. If the cost is a product cost, identify it as a prime and/or conversion cost.| Period Cost | Product Cost | ||
| Prime Cost | Conversion Cost | ||
| Factory property taxes "u00a6"u00a6"u00a6. | |||
| Payroll taxes for assembly labor "u00a6"u00a6"u00a6.. | |||
| Depreciation of factory equipment "u00a6"u00a6"u00a6.. | |||
| Insurance on delivery vehicles "u00a6"u00a6"u00a6. | |||
| Indirect materials used "u00a6"u00a6"u00a6. | |||
| Wages of production workers "u00a6"u00a6"u00a6. | |||
| Production supervisor's salary "u00a6"u00a6"u00a6. | |||
| Advertising "u00a6"u00a6"u00a6.. | |||
| Direct materials used "u00a6"u00a6"u00a6. | |||
| Sales salaries "u00a6"u00a6"u00a6. | |||
Answer
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