Question

Classify​ Lawlor's costs as period costs or product costs. If the costs are product​ costs, further classify as direct​ materials, direct​ labor, or manufacturing overhead.

Answer 1

product cost ( direct materials,direct labour and manufacturing overheads).

It is a combination of products cost materialize cost on assets and period cost materialist on difference income and expenses in time.please find the attachment on the differences.

Explanation:

• Product cost idealizes on inventory, assets to the companies.
• It has segregation direct materials product sales.
• It has segregation direct labour cost maintaing products.
• It has segregation of manufacturing issues with machine for products.
• Period cost is an event which happens at certain point of time.
• It administrative,commission and significant understanding.
• Delivers different set of cost accounting.
• It raises issues and exponential cost incurred.