Which of the following is not associated with period costs?
A. The passage of time
B. Creation of overhead
C. Administration of the business
D. Selling of a product
| Option B is the answer | ||
| Period costs are those costs which are not product costs. These costs re associated with passage of time, selling of product and administration of business |
Which of the following is not associated with period costs? A. The passage of time B....
8. Which of the following are period costs? A) Raw materials B) Direct materials and direct labor C) Direct labor and manufacturing overhead D) Selling expenses
A job cost sheet A) tracks all period costs associated with a job in a job order costing system. B) accumulates only the applied or assigned manufacturing overhead costs. C) accumulates all product costs associated with one job. D) is used in process costing systems
18 Which of the following costs is a period cost for a manufacturing company? a. Controller's salary b. wages of machine operators c. insurance on factory equipment d. fringe benefits for factory employees Blazin-Boards Company plans to sell 10,000 snowboards at $400 each in the coming year. Product costs include: Direct Materials per snowboard $80 Direct Labor per snowboard $125 Variable overhead per snowboard $15 Total fixed factory overhead $800,000 Variable selling expense is a commission of 5% of sales...
Explain why product costs are capitalized but period costs are expensed in the current accounting period. Explain how business activities and inventories for a manufacturing company, a merchandising company, and a service company differ. Distinguish between direct labor and indirect labor. Distinguish between (a) factory overhead and (b) selling and administrative overhead. Distinguish between direct material and indirect material. What product cost is both a prime cost and a conversion cost?
Which of the following is associated with flexibility? A. Obsolescence of a major product line B. Downturn in sales C. Downturn in business cycle D. None of the above
What are two examples of product costs? Choose two answers. A. Period expenses B. Manufacturing overhead C. Direct materials D. Selling and administrative expenses
which of the following proposed titles best summarizes the topic of the passage time management? a) technology and time management b) implementing skills for effective scheduling which of the following sentences restate the main claim the passage? a) organizing informationcan make simple tasks more successful b) organization and time management work together to improve scheduling
Which of the following statements is correct? A. Product costs for a merchandiser are expensed as selling, general, and administrative expensed when the related unit is sold. B. Period costs are relevant for purposes of calculating Gross Profit on the Income Statement for a both a merchandiser and a manufacturer. C. Product costs for a manufacturer are categorized as either direct material, direct labor, or manufacturing overhead costs. D. All links in the value chain applicable to a service company...
1. Which of the following is true of expired costs? a. Expired costs are reported as fixed assets on a company's balance sheet. b. Expired costs are added to revenue to determine income on the income statement. c. Expired costs are used up in the production of revenue in the period incurred. d. Expired costs are listed as liabilities on the balance sheet in the period they are incurred. 2. Which of the following statements best describes an indirect cost?...
Classify the following costs at a car manufacturer as a) product or period and b) direct materials (DM), direct labor (DL), manufacturing overhead (MOH), or selling or general and administrative expense (G&A). D M or D Lor If MOH What Selling Expense or Windshield Engine Wages of assembly line worker Depreciation of factory machines Factory machinery lubricants Steering wheel Salary painting supervisor Salary of company president Rent on office building Utilities on factory building Factory safety manager Janitorial wages on...