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MANAGERIAL ACCOUNTING QUESTIONS

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Question 1: Product and period costs a) In a manufacturing firm, product costs include O all fixed costs O al variable costs O all manufacturing costs O all non-manufacturing costs all GAAP costs period costs include O all manufacturing costs O all fixed costs O all non-manufacturing costs O all non-GAAP costs O all variable costs b) Classify the following items as product or period costs: Rent for the factory building Rent for the sales office Depreciation on production equipment Depreciation on sales office equipment Production supervisor's salary Marketing manager's salary Assembly workers wages Materials used in production Office supplies used in the customer service department product period product period product period product period product period product period product period product period product O period