Assigning Costs: Suppose you started your own snowboard factory, KRT Boards. Here are some of the costs that your snowboard factory would incur. Assign the following costs: Illustration 1-10 Direct Materials Product Costs Direct Manufacturing Labor Overhead Period Costs Cost Item 1. Material cost ($30) per board 2. Labor costs ($40) per board 3. Depreciation on factory equipment ($25,000 per year) 1-44 LO 7 Explain the difference between a merchandising and a manufacturing balance sheet. Illustration 1-10 Direct Materials Product Costs Direct Manufacturing Labor Overhead Period Costs Cost Item 4. Property taxes on factory building ($6,000 per year) 5. Advertising costs ($60,000 per year) 6. Sales commissions ($20 per board) 7. Maintenance salaries (factory facilities) ($45,000 per year) 8. Salary of plant manager ($70,000) 9. Cost of shipping boards ($8 per board) 1-45