A review of accounting records for last year disclosed the following selected information: Variable costs: Direct materials used 48,000
| A review of accounting records for last year disclosed the following selected information: | |||||
| Variable costs: | |||||
| Direct materials used | 48,000 | ||||
| Direct labor | 165,000 | ||||
| Manufacturing overhead | 95,000 | ||||
| Selling costs | 86,000 | ||||
| Fixed costs: | |||||
| Manufacturing overhead | 250,000 | ||||
| Selling costs | 100,000 | ||||
| Administrative costs | 223,000 | ||||
| In addition, the company suffered a $15,200 uninsured factory fire loss during the year. What were the product costs and period costs for last year? | |||||
| Product | |||||
| Period | |||||
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