“Oversize” In “Track Shipments”, but correct size dimensions for ASIN?

In “Track Shipments”, I see that the product count is correct, but the item is listed as “oversize. This is confusing, as the size dimensions for the ASIN are correct, and it should be “Standard” size.

Is this a problem for me? I know I should go audit the storage fees for the product, so let me ask here:

1) Storage fees are based upon inventory as of the 15th of the month, correct?

2) Storage fees are calculated by multiplying the volume of the product by the number of items in inventory, correct?