The following are selected data for Lopez Furniture:

Classify manufacturing costs.

Utilities for manufacturing equipment

$120,000

Wood

850,000

Depreciation on factory building

220,000

Wages for production workers

391,000

Fabric

313,000

Delivery expense

144,000

Property taxes on factory

70,000

Using the selected data above, determine total (a) direct materials, (b) direct labor, (c) manufacturing overhead, (d) product costs, and (e) period costs.

Solution