Question 3 (Total: 30 marks)

Identify if the following costs are product or period costs:

COST	Period Cost or Product Cost?
1. Television advertisements for Baileys products
2. Lubricants used in running bottling machines
3. Research and Development related to elimination of antibiotic residues in milk
4. Gasoline used to operate refrigerated trucks delivering finished dairy products to grocery stores
5. Company presidents annual bonus
6. Depreciation on refrigerated trucks used to collect raw milk
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
10. Depreciation on tablets used by sales staff
11. Depreciation on chairs and tables in the factory lunchroom.
12. The cost of packaging the companys product.
13. The wages of the receptionist in the administrative offices.
14. Cost of leasing the corporate jet used by the companys executives.
15. The cost of renting rooms at a BC resort for the annual conference.