Question 1: Product and period costs a) In a manufacturing firm, product costs include: all variable costs all non-manufacturing costs all manufacturing costs all GAAP costs all fixed costs Correct: Your answer is correct. period costs include: all variable costs all non-manufacturing costs all fixed costs all non-GAAP costs all manufacturing costs Correct: Your answer is correct. b) Classify the following items as product or period costs: Rent for the factory building product period Correct: Your answer is correct. Rent for the sales office product period Correct: Your answer is correct. Depreciation on production equipment product period Correct: Your answer is correct. Depreciation on sales office equipment product period Correct: Your answer is correct. Production supervisor's salary product period Correct: Your answer is correct. Marketing manager's salary product period Correct: Your answer is correct. Assembly workers' wages product period Correct: Your answer is correct. Materials used in production product period Correct: Your answer is correct. Office supplies used in the customer service department product period Correct: Your answer is correct.