Coldplay Corporation incurred the following costs while manufacturing its product.

Instructions(a) Identify each of the costs as direct materials, direct labor, manufacturing overhead, or period costs.(b) Explain the basic difference in accounting for product costs and periodcosts.

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Materials used in product Advertising expense $100,000 60,000 $45,000 Depreciation on plant Property taxes on store Labor costs of assembly-line workers 110,000 Factory supplies used Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks 7,500 21,000 50,000 13,000