Cost Classification

The following costs were incurred by the ABC Corporation during the past period:

• Direct Material $216,000 - Factory Rent $24,000
• Direct Labor $125,500 - Factory Utilities $ 6,300
• Advertising Cost $37,000 - Receptionist Salary $30,000
• Sales Commissions $47,000 - Depreciation on Fact. Equip. 8,300
• Factory Indirect Labor $30,000 - Depreciation on HQ Building $12,000
• Manager Salary $50,000 - Lease on Factory Equipment $4,400
• Salary of Corp. President $80,000

Required:

1. Classify each of the costs listed above using the following table format. You should create this format in Excel to simplify your submittal. Be sure to total the amounts in each column. Note: Any cost, regardless of whether it is fixed or variable, can only be a product or period cost BUT not both.

Costs	Amount	Cost Behavior	Product Costs	Period Costs
		Variable	Fixed	Direct	Indirect	Selling	Administrative
Direct Material	$216,000	$216,000		$216,000

1. What are total Product Costs?
2. What are the total Period Costs?
3. What are total Variable Costs?
4. What are total Fixed Costs?
5. If a total of 2000 units were produced what is the unit product cost?