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Direct materials $14,000 Direct labor $17,000 Other Costs Variable Fixed Manufacturing overhead $18,000 $12,000 Marketing $3,000...

Direct materials $14,000 Direct labor $17,000 Other Costs Variable Fixed Manufacturing overhead $18,000 $12,000 Marketing $3,000 $11,000 Administrative $7,000 $6,000 In the table above are shown costs incurred during April by Wright Aero-Bikes. The amount classified as product costs would be?

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Answer #1
  • Product costs are those cost that basically forms the part of the product and is directly related to the production of that product. Most of the time, the product costs are variable in nature and they vary as with the production.
  • Product cost include direct material, direct labor, factory overhead etc.
  • In the question given, product cost will include------

Direct materials $14000
Direct Labor $17000
Variable manufacturing Overhead $18000
Fixed Manufacturing Overhead $12000

Total Product cost = 14000 + 17000 + 18000 + 12000 = $ 61000

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