Knight Company reports the following costs and expenses in May. Factory utilities $16,300 Direct labor $69,400
Depreciation on factory equipment 13,450 Sales salaries 48,200
Depreciation on delivery trucks 4,300 Property taxes on 3,400
factory building
Indirect factory labor 49,500 Repairs to 1,400
office equipment
Indirect materials 85,700 Factory repairs 2,240
Direct materials used 142,700 Advertising 15,900
Factory manager’s salary 8,200 Office supplies used 3,670
Determine the total amount of manufacturing overhead, total amount of product costs, and total amount of period costs.

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation

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Which statement best describes entrepreneurship aitmakes people very rich b it relies on large financial investments c it is only possible in the retail industry d it requires creativity and ambition