Book Print Hom Classifying Costs The following is a list of costs that were incurred in the production and sale of large commercial airplanes: Classify each cost as either a product cost or a period cost. Indicate whether each product cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate whether each period cost is a selling expense or an administrative expense. Costs a. Annual bonus paid to the chief operating officer of the company b. Annual fee to a celebrity to promote the aircraft c. Cost of electronic guidance system installed in the airplane cockpit d. Cost of electrical wiring throughout the airplane e. Cost of miniature replicas of the airplane used to promote and market the airplane f. Cost of normal scrap from production of airplane body g. Cost of paving the headquarters employee parking lot h. Decals for cockpit door, the cost of which is immaterial to the cost of the final product i. Depreciation on factory equipment j. Hourly wages of employees that assemble the airplane k. Hydraulic pumps used in the airplane's flight control system 1. Instrument panel installed in the airplane cockpit m. Interior trim material used throughout the airplane cabin n. Masks for use by painters in painting the airplane body o. Metal used for producing the airplane body p. Oil to lubricate factory equipment Classification Period costs-administrative expense Product costs-factory overhead cost X Product costs-direct materials cost Period costs-administrative expense X Product costs-direct materials cost X Product costs-direct materials cost X Product costs-factory overhead cost X Product costs-direct labor cost X Period costs-selling expense X Period costs-administrative expense X Product costs-direct materials cost Product costs-direct materials cost Product costs-factory overhead cost X Period costs-selling expense X Period costs-administrative expense X Product costs-direct materials cost X Derind coste-selling exnance. V Check My Work 2 more Check My Work uses remaining All work saved. Previous Next Save and Exit Submit Assignment for Grading