Accounting/exam.....

Arden Company reported the following costs and expenses for the most recent month: Direct materials $ 76,000 Direct labor $ 38,000 Manufacturing overhead $ 16,000 Selling expenses $ 19,000 Administrative expenses $ 31,000 Required: What is the total amount of product costs? What is the total amount of period costs? What is the total amount of conversion costs? What is the total amount of prime costs? {Ans: 130,000 50,000 54,000 114,000}Management of Lewallen Corporation has asked your help as an intern in preparing some key reports for September. Direct materials cost was $57,000, direct labor cost was $43,000, and manufacturing overhead was $71,000. Selling expense was $15,000 and administrative expense was $32,000. The prime cost for September was: {Ans: $100,000}Which of the following costs is classified as a prime cost? {Ans: Direct Materials}The salary paid to the maintenance supervisor in a manufacturing plant is an example of: {Ans: Product cost and MOH}A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $5,490 and is paid at the beginning of the first year. Seventy percent of the premium applies to manufacturing operations and thirty percent applies to selling and