A company will only incur an opportunity cost for a special order when:

a. The cost of the order is greater than the average cost for current business

b. There is no idle capacity

c. There is no benefit from the special order

d. The price of the order is less than its variable cost

The true statement is:

a. Period costs are expensed in the period the product is sold

b. Product costs are expensed in the period the product is sold

c. Period costs are initially inventoried, then expensed

d. Product costs are expensed as the product is produced