Question
Classify each of the following costs as a product cost or period cost. If it is a product cost, classify it as direct (or indirect
Classify each of the following costs as a product cost or period cost. If it is a product cost, classify it as direct (or indirect ) materials,direct (or indirect ) labor, or overhead. a . Wheat used to make flour at General Mills . b . Sales commissions paid to sales personnel at Gap retail stores. c . Costs incurred by General Motors to ship automobile seats purchased from the Lear Corporation to GM assembly plants. d . Insurance paid on the Target retail stores in Michigan. e. Insurance paid on the Target warehouse holding merchandise inventory. f . Bonus paid to all production employees of General Motors at the end of a profitable fiscal year. g . Health care costs for the office workers at the headquarters of Johnson & Johnson Company . h . Bolts used by Trek Bicycle Corporation to secure the bike parts to the frame.
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