Each of the following costs pertains to DairyPlains. a dairy processing company.

Question

Each of the following costs pertains to DairyPlains. a dairy processing company. Classify each of the company's costs as a period cost or an inventoriable product cost. Further classify inventoriable product costs as either direct material (DM), direct labor (DL), or manufacturing overhead (MOH). 1. Company president's annual bonus 2. Plastic gallon containers in which milk is packaged 3. Depreciation on Marketing Department's computers 4. Wages and salaries paid to machine operators at dairy processing plant 5. Research and development on improving milk pasteurization process 6. Cost of milk purchased from local dairy farmers 7. Lubricants used in running bottling machines 8. Depreciation on refrigerated trucks used to collect raw milk from local dairy farmers 9. Property tax on dairy processing plant 10. Television advertisements for DairyPlains' products 11. Gasoline used to operate refrigerated trucks delivering finished dairy products to grocery stores

Explanation / Answer

Answer:

1. Period

2. Product, DM

3. Period

4. Product, DL

5. Period

6. Product, DM

7. Product, MOH

8. Product, MOH

9. Product, MOH

10.Period

11. Period

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