Solution-Difference in accounting for product costs and

Difference in accounting for product costs and period costs

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Reference no: EM131705487

Trak Corporation incurred the following costs while manufacturing its bicycles.

Bicycle components	$100,000	Advertising expense	$45,000
Depreciation on plant	60,000	Property taxes on plant	14,000
Property taxes on store	7,500	Delivery expense	21,000
Labor costs of assembly-line workers	110,000	Sales commissions	35,000
Factory supplies used	13,000	Salaries paid to sales clerks	50,000

Explain the basic difference in accounting for product costs and period costs.

Reference no: EM131705487

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Difference in accounting for product costs and period costs

Reference no: EM131705487

Reference no: EM131705487

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