The following costs are incurred by Gonzalez Manufacturing Co. Classify each cost item as either a period cost or a product cost. If the cost is a product cost, identify it as a prime and/or conversion cost. Place an x in the appropriate column for your answers.?Period CostProduct Cost??Prime CostConversionCostFactory property taxes.???Payroll taxes for assembly labor.???Depreciation of factory equipment.???Insurance on delivery vehicles???Indirect materials used???Wages of production workers.???Production supervisor's salary???Advertising???Direct materials used.???Sales salaries.???
What will be an ideal response?
| ? | Period Cost | Product Cost | |
| ? | ? | Prime Cost | Conversion Cost |
| Factory property taxes | ? | ? | X |
| Payroll taxes for assembly labor | ? | X | X |
| Depreciation of factory equipment | ? | ? | X |
| Insurance on delivery vehicles | X | ? | ? |
| Indirect materials used | ? | ? | X |
| Wages of production workers | ? | X | X |
| Production supervisor's salary | ? | ? | X |
| Advertising | X | ? | ? |
| Direct materials used | ? | X | ? |
| Sales salaries | X | ? | ? |
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