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Each of the following costs pertains to Bailey Dairy Products Company, a dairy processing company. Classify each of the company's costs as a period cost
Each of the following costs pertains to Bailey Dairy Products Company, a dairy processing company. Classify each of the company's costs as a period cost or a product cost. Further direct material (DM), direct labor (DL), or manufacturing overhead (MOH). (If the cost is a period cost, leave the classification input field empty, do not select a label.) (Click the icon to view the costs.) Period Cost or Cost Product Cost DM, DL or MOH 1. Television advertisements for Bailey's products Period cost 2 Lubricants used in running bottling machines Product cost MOH 3. 4. Research and development related to elimination of antibiotic residues in milk Gasoline used to operate refrigerated trucks delivering finished dairy products to grocery stores Period cost 5. Company president's annual bonus Depreciation on refrigerated trucks used to collect raw milk from local dairy farmers Cost 6. 7. Plastic gallon containers in which milk is packaged 8 Property Insurance on dairy processing plant 9. Cost of milk purchased from local dairy farmers Period cost Period cost Period Cost or Product Cost Product cost Product cost Product cost Product cost 10. Depreciation on tablets used by sales staff 11. Wages and salaries paid to machine operators at dairy processing plant Period cost Product cost DM, DL or MOH
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