Classifying CosLs as Product or Period CosLs For apparel manufacturer Abercrombie & Fitch, Inc. (ANF), classify each of the following costs as either a product cost or a period cost: Item Classification 3. Chief nancial officer's salary V I). Sales commissions V c. Property taxes on factory building and equipment V d. Depreciation on sewing machines V e. Fabric used during production V f. Utility costs for office building V 9. Factory supervisors' salaries V II. Depreciation on office equipment V i. Oil used to lubricate sewing machines V j. Advertising expenses V k. Research and development costs V I. Repairs and maintenance costs for sewing machines V m. Salaries of production quality control supervisors V n. Salaries of distribution center personnel V a. Travel costs of media relations employees V p. Factory janitorial supplies V q. Wages of sewing machine operators V Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether each of the following costs of a motorcycle manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classication a. Motorcycle engine V b. Depreciation of robotic assembly line equipment V 1:. Brake pads V d. Glass for windshield V e. Tires V f. Salary of quality control inspector V 9. Motorcycle seat V h. Safety helmets and masks for assembly line workers V ) i. Wages of assembly line workers V Manufacturing Company Balance Sheet Partial balance sheet data for Diesel Additives Company at August 31 are as follows: Finished goods inventory $89,400 Prepaid insurance 9,000 Accounts receivable 348,200 Work in process inventory 61,100 Supplies 13,800 Materials inventory 26,800 Cash 167,500 ) Prepare the "Current assets" section of Diesel Additives Company's balance sheet at August 31. Diesel Additives Company Balance Sheet August 31 Line Item Description Amount Amount Current assets: ' $|:l ' $ Total inventories v v Total current assets 55 DUDE Cost of Direct Materials Used in Production for a Manufacturing Company Gabbitas Manufacturing Company reported the following materials data for the month ending September 30: Materials purchased $815,900 Materials inventory, September 1 235,200 Materials inventory, September 30 203,000 Determine the cost of direct materials used in production by Gabbitas during the month ended September 30.Staterrent of Cost of Goods Mantifacttirec fora Manufacturing Company Cost data for Firetree Manufacturing Company for the month ended March 31 are as follows: Inventories March 1 March 31 Materials $240,000 $195,200 Work in process 423,700 510,400 Finished goods 582,100 614,400 Direct labor $3, 200,000 Materials purchased during March 2,6?3,500 Factory overhead incurred during March: Indirect labor 320,000 ) Machinery depreciation 213,000 Heat, light, and power 124,000 Supplies 36,100 Property taxes 30,000 Miscellaneous costs 48,200 a. Prepare a cost of goods manufactured statement for March. Firetree Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 Costs Type Amount Amount Amount _. E Direct materials: 0000 _. E E Factory overhead: 000000 Total factory overhead E Total manufacturing costs incurred during March Total manufacturing costs v 0000 Cost of goods manufactured b. Determine the cost of goods solc for March. '5: Cost Flow Relationships The following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils: Sales $792,000 Gross profit 462,000 Cost of goods manufactured 396,000 Indirect labor 171,600 Factory depreciation 26,400 Materials purchased 244,200 Total manufacturing costs for the period 455,400 Materials inventory, ending 33,000 Using the above information, determine the following missing amounts: a. Cost of goods sold b. Finished goods inventory at the end of the month c. Direct materials cost d. Direct labor cost e. Work in process inventory at the end of the month