Georgia Pacific, a manufacturer, incurs the following costs. (1) Classify each cost as either a product or
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(1) Classify each cost as either a product or a period cost. If a product cost, identify it as a prime and/or conversion cost.
(2) Classify each product cost as either a direct cost or an indirect cost using the product as the costobject.
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Product Cost Period Direct Indirect Cost Prime Conversion Cost Cost Cost I. Amortization of patents on factory machine 2. Payroll taxes for production supervisor 3. Accident insurance on factory workers 5- State and federal income taxes ····.. . . 6. Wages to assembly workers 7. Direct materials 8. Office supplies used.. 9. Bad debts expense 10. Small tools used 2. Advertising
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