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Determine product and period costs. A greeting card company incurred the following costs associated with running its business last month: cardstock (thick paper), $9,800; ink,
Determine product and period costs.
A greeting card company incurred the following costs associated with running its business last month: cardstock (thick paper), $9,800; ink, stickers, ribbons, and other card attachments, $7,500; rent on office space, $1,400; rent on factory space, $2,300; office salaries, $5,200; factory labor, $8,900; and advertising $850. How much were its total product costs last month? How much were its total period costs last month?
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