4.2 please, thank you!!
K. Lease payments for a piano showroom 1. Sandpaper used to smooth the wooden components of a piano 4.2 (LO 1, 2) Product cost identification and classification Friendly Ice Cream Corporation operates and franchises full-service restaurants from Maine to Florida. The company also manufactures the ice cream that is served in its restaurants and sold in supermarkets and other retail stores. Indicate whether each of the following costs that Friendly's might incur would be considered a product or a period cost. If the cost is a product cost, classify it as direct materials, direct labor, indirect materials, indirect labor, or other manufacturing overhead. a. The cost of milk used in the manufacturing of ice cream b. Salaries paid to the graphic artists responsible for the design of the corporate website c. Salary paid to the shift supervisor in the ice cream plant d. Wages paid to production line workers in the ice cream plant e. Wages paid to the forklift drivers who load the filled ice cream cartons into storage freezers awaiting delivery to customers f. The cost of empty ice cream cartons g. The cost of hairnets worn by production line workers h. The cost of glue used to seal the bottom of ice cream cartons i. The cost of toner for the sales department's laser printer j. The cost of life insurance policies for top corporate executives 4.3 (LO 2) Product cost classification Ethan Allen Interiors, Inc. is a leading manufacturer and retailer of furniture and home decorating accessories. Its company-owned operations include sawmills, manufacturing plants, and retail stores. Classify each of the following product costs as direct materials, indirect materials, direct labor, indirect labor, or other manufacturing overhead. a. Maple logs purchased and cut in the sawmill