Given the following costs incurred in a recent period: Direct materials - P33,000 Depreciation on factory equipment - P12,000 Factory janitor’s salary - P23,000 Direct labor - P28,000 Utilities for factory - P9,000 Selling expenses - P16,000 Production supervisor’s salary - P34,000 Administrative expenses - P21,000. Determine the following values: • period cost • product cost • operating expenses

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Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.