Identifying product and period costs Following is a list of accounts used by Omicron Man- ufacturing Company:

REQUIRED For each of the accounts listed above indicate if it is most likely classified as a product cost or a period cost.

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Product Period Cost Cost a. Wages for shipping clerks in the finished goods inventory storeroom b. Workers' compensation insurance premiums on factory employees c. Payroll taxes for marketing personnel.... d. Direct labor ... e. Property taxes on the facilities f. Depreciation on the office building. g. Maintenance contract on hydraulic presses h. Insurance on the production plant i. Sales commissions ..... j. Depreciation on manufacturing equipment k. Direct materials ...... 1. Fire insurance on finished goods inventory m. Fire insurance on raw materials inventory. n. Storage and handling costs on raw materials inventory o. Sales salaries ..... p. Lease cost for a computer used solely for production scheduling q. Operating costs of office personnel cafeteria r. Operating costs for factory first aid room s. Administrative salaries t. Advertising ...... u. Indirect materials