Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Suzie has come to you for help in getting her idea off the ground.

Assume that Suzie Whitson has decided to begin production of her outdoor children's toy. Her company is Jiffy Jet and costs for the last month follow:

Your friend. Sertie Whitson has deilgned a new type of outdoor toy that heips chlidren leam baric canceptis such as colors. numbers, and shapes. Surles product will target two groupt: der eare centers in warm climstet and home school proerame. Surle has come to for helo in getting her idea oft the ground. Assume that Suzie Whitson has decided to berin oroduction of her outdoor chaldratis toy. Her conc pay ie litfr 1. Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH). The first line (Factory rent) is done as an example. 28 points 2. Identify each of the preceding costs as variable or fixed. The first line (Factory rent) is done as an example. 28 points 3. Determine the total cost for each of the following: 27 points (Please note, you must show your work to receive full credit) A. Direct materials B. Direct labor C. Manufacturing overhead D. Prime cost E. Conversion cost F. Total product cost G. Total period cost H. Total variable cost I. Total fixed cost 4. Suppose all period costs were incorrectly identified as product costs. What impact could that have on Jiffy Jet's financial statements? Use a minimum of two sentences to explain your answer. 17 points