Ryan Corporation incurred the following costs while manufacturing its product.

Materials used in product	$100,000	Advertising expense	$45,000
Depreciation on plant	60,000	Property taxes on plant	14,000
Property taxes on store	7,500	Delivery expense	21,000
Labor costs of assembly-line workers	110,000	Sales commissions	35,000
Factory supplies used	13,000	Salaries paid to sales clerks	50,000

Instructions

(a)	Identify each of the above costs as direct materials, direct labor, manufacturing overhead, or period costs.

(b)	Explain the basic difference in accounting for product costs and period costs.