Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Classify each of the following costs as either a product cost or a period cost: a. Direct materials used b. Factory utilities c. Salespersons' commissions
Classify each of the following costs as either a product cost or a period cost:
a. Direct materials used | |
b. Factory utilities | |
c. Salespersons' commissions | |
d. Salary of plant manager | |
e. Indirect materials used | |
f. Depreciation on store equipment | |
g. Indirect labor incurred | |
h. Advertising expense | |
i. Direct labor incurred | |
j. Factory machinery repairs and maintenance | |
k. Depreciation on factory machinery | |
l. Plant insurance expired |
I'm making some flash cards and I need to know which each one of these are: product or period cost.
Thanks
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started