1. For preparing financial statements, what is the product cost? What is the period cost?

2. For assigning costs to cost objects, what is the total direct manufacturing cost? What is the total indirect manufacturing cost?

3. With respect to manufacturers, what is the total manufacturing cost? What is the total nonmanufacturing cost?

Project Data and Questions A new company reported the following cost information for its first year of business, during which 2,000 units were produced and sold: $138,000 70,000 56,000 50,000 36,000 30,000 24,000 Direct materials Direct labor Fixed manufacturing overhead Fixed administrative expense Fixed selling expense Variable manufacturing overhead Variable selling expense Variable administrative expense 8,000 Using this information, answer the following questions regarding cost classifications: