Sobota Corporation has provided the following partial listing of costs incurred during August: Marketing salaries $54,500
Property taxes, factory $12,500
Administrative travel $103,400
Sales commissions $53,800
Indirect labor $43,700
Direct materials $171,900
Advertising $140,300
Depreciation of production equipment $41,400
Direct labor $93,400

Required:
a. What is the total amount of product cost listed above?
b. What is the total amount of period cost listed above?

a. $265,300

b. $449,600

Explanation:

Product costs are all the costs incurred in directly manufacturing a product (direct labor and direct materials), while period costs are indirect costs and include overhead, S&A expenses, etc. Period costs occurrence is directly related to the passage of time, e.g. equipment will depreciate whether it is used or not.

product costs:

period costs:

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