Solved: Calculating total product cost, Cost Accounting

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Calculating total product cost

Response to the following problem:

Martinez Manufacturing Inc. showed the following costs for last month:

Direct materials ................... $7,000

Direct labor ......................... 3,000

Manufacturing overhead ......... 2,000

Selling expense .................... 8,000

Last month, 6,000 units were produced and sold.

Required:

1. Classify each of the costs as product cost or period cost.

2. What is total product cost for last month?

3. What is the unit product cost for last month?

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Cost Accounting: Calculating total product cost

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Cost Accounting: Calculating total product cost

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