1. The accounting records of Georgia Company revealed the following costs: direct materials used, $250,000; direct labor, $425,000; manufacturing overhead, $375,000; and selling and administrative expenses, $220,000. Georgia's product costs total:
a. $1,050,000
b. $830,000
c. $895,000
d. $1,270,000
e. some other amount
2. Costs that are expensed when incurred are called:
a. product costs
b. direct costs
c. inventorial costs
d. period costs
e. indirect costs
3. Which of the following is a period cost?
a. Direct material
b. Advertising expense
c. Indirect Labor
d. Miscellaneous supplies used in production activities
e. Both "B" and "C"
4. Which of the following is not a period cost?
a. Legal costs
b. Public relations costs
c. Sales commissions
d. Wages of assembly-line workers
e. The salary of a company's chief financial officer (CFO)