Determine the amount of : Peroid Costs?

Knight Company reports the following costs and expenses in May.

Factory utilities - $15,730 Direct labor$73,307

Depreciation on factory equipment - 14,740 Sales salaries - 48,473

Depreciation on delivery trucks - 4,256 Property taxes on factory building - 2,897

Indirect factory labor - 53,233 Repairs to office equipment - 2,073

Indirect materials - 83,496 Factory repairs - 2,174

Direct materials used - 139,417 Advertising - 16,515

Factory manager’s salary - 8,367 Office supplies used - 3,599

From the information, determine the total amount of:

a) Manufacturing Overhead - $180,637 b) Product Costs - ????????????????? c) Peroid Costs -$74,916

• Product costs are those costs assigned to an inventory account that eventually become part of cost of goods sold. Examples of manufacturing product costs are raw materials used, direct labor, factory supervisor's salary, and factory utilities. In a manufacturing company, product costs are also called manufacturing costs.

a)

Factory utilities - $15,730 Depreciation on factory equipment - 14,740 Property taxes on factory building - 2,897 Indirect factory labor - 53,233 Indirect materials - 83,496 Factory repairs - 2,174 Factory manager’s salary - 8,367 Total$180,637

b) Product Costs

Direct materials used - 139,417

Direct labor $73,307 Manufacturing Overhead$180,637

Total $393,361 c) Period Costs Sales salaries - 48,473 Depreciation on delivery trucks - 4,256 Repairs to office equipment - 2,073 Advertising - 16,515 Office supplies used - 3,599 Total$74,916