The following items appear as cost of a manufacturing company:
A. Depreciation on plant and equipment
B. Depreciation on delivery vans
C. Insurance on plant and building
D. Marketing manager’s salary
E. Raw materials
F. Manufacturing overheads
G. Electricity bill for the residential quarters
H. Production staff wages

Required

1. Identify the following as either an inventoriable product cost or a period cost.
2. Using the following information, compute the cost of goods manufactured:
3. Direct materials £24,000
4. Direct labor £9,000
5. Manufacturing overheads £17,000
6. Beginning work in process inventory £12,000
7. Ending work in process inventory £5,000