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1. Period expenses are most closely associated with: a. cost of goods manufactured b. cost of...


1. Period expenses are most closely associated with: a. cost of goods manufactured b. cost of goods sold manufacturing overhe
1. Period expenses are most closely associated with: a. cost of goods manufactured b. cost of goods sold manufacturing overhead d. selling and administrative expenses
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Answer #1

Answer: d. Selling and Administrative expenses

Explanation:

i.Product expenses:  These are incurred if products are acquired or produced.

Example: Direct materials, Direct labor and Manufacturing Overhead.

ii.Period expenses: These are associated with the passage of time.

Example: Selling expenses, Administrative expenses and Interest expenses.

Thus,

a. Cost of goods manufactured : Product expense

b.Cost of goods sold: Product expense

c.Manufacturing overhead: Product expense

d.Selling and administrative expense: Period expense

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