Each of the following is either a product or a period cost. Label each one appropriately (worth 1/2 pt each).

The cost of the memory chips used to create radar for an aircraft

[ Choose ] Period Product

Factory heating costs

[ Choose ] Period Product

Factory equipment maintenance costs

[ Choose ] Period Product

Training costs for new administrative employees

[ Choose ] Period Product

The cost of the solder that is used in the assembling of the radar

[ Choose ] Period Product

The travel cost of the company's salespersons

[ Choose ] Period Product

Wages and salaries of factory security personnel

[ Choose ] Period Product

The wages of the workers who assemble the radar sets

.

Each of the following is a characteristic of Managerial or Financial Accounting. Label each one appropriately (worth 1/2 pt each).

Emphasizes timeliness

[ Choose ] Managerial Financial

Reports to board of directors, owners, outsiders

[ Choose ] Managerial Financial

Focuses on parts of the company

[ Choose ] Managerial Financial

Emphasizes relevance

[ Choose ] Managerial Financial

Must follow generally accepted accounting principles

[ Choose ] Managerial Financial

Focuses on historical data

[ Choose ] Managerial Financial

Need not follow GAAP

[ Choose ] Managerial Financial

Emphasizes precision