Activity #2 Cost Terminology

1. What are the total Product Costs 2. What are total Period Costs 3. What are total Conversion Costs 4. What are total Prime Costs 5. What are total Variable Mfg. Cost 6. What are total Fixed Cost 7. What are total Variable Costs

Direct Material $ 69,000 Direct Labor 35,000 Variable Manufacturing Overhead $ 15,000 Fixed Manufacturing Overhead 28,000 Total Mfg. O/H $ 43,000 Variable Selling Expense $ 12,000 Fixed Selling Expense 18,000 Total Selling Expense $ 30,000 Variable Administration Expense $ 4,000 Fixed Administration Expense | 25,000 Total Administration Expense $ 29,000