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Total and Unit Product Cost Martinez Manufacturing Inc. showed the following costs for last month: Direct materials $7,000 Direct labor 2,500 Manufacturing overhead 1,700 Selling
Total and Unit Product Cost
Martinez Manufacturing Inc. showed the following costs for last month:
Direct materials | $7,000 |
Direct labor | 2,500 |
Manufacturing overhead | 1,700 |
Selling expense | 8,000 |
Last month, 5,000 units were produced and sold.
Required:
1. Classify each of the costs as product cost or period cost.
Direct materials - ?? | |
Direct labor- ?? | |
Manufacturing overhead - ?? | |
Selling expense- ?? |
2. What is total product cost for last month? $_____
3. What is the unit product cost for last month? If required, round your answer to the nearest cent. $___per unit
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