Problem $1$

Vijay's Vinyl, manufactures vinyl records for selected artists.. Samantha Kline, CFO of Vijay's Vinyl, has gathered the following cost information from the company's accounting records for the latest month of operations.

Advertising....... $15,000$

Fire insurance for the factory building... $2,500$

Sales office utilities..... $3,500$

Vinyl needed to produce records.... $42,000$

Rent on the factory building..... $11,000$

Freight to ship the records to stores...$\mathrm{.}4,500$

Sales department executive salaries... $56,000$

Production supervisors' salaries..$\mathrm{.}47,000$

Assembly line workers' wages..$\mathrm{.}70,000$

a$.$ What are the total product costs?

$2\mathrm{.}5pt$

b$.$ What are the total period costs?

$(2\mathrm{.}5pt)$

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