Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat.
Costs
1. plastic for casing-$19,000
2. Wages of assembly workers-$81,000
3. Property taxes on factory-$5,000
4 . Office accounting salaries-$39,000
5. Drum stands-$28,000
6. Rent cost of office for accountants-$12,000
7. Office management salaries-$150,000
8. Annual fee for factory maintenance $13,000
9. Sales commissions-$15,000
10. Factory machinery depreciation, straight-line-$39,000
Required:
1. Classify each cost and its amount as either product or period. The first cost is completed as an example.