Question: I need the answer with the examples 2-3,2-7,2-14and3-1 Explain the difference between a product cost and a period costs. What is meant by an activity

I need the answer with the examples 2-3,2-7,2-14and3-1

Explain the difference between a product cost and a period costs. What is meant by an activity base when dealing with variable costs? Give several examples of activity bases. Explain the difference between a contribution format income statement and a traditional format income statement. Explain why actual manufacturing overhead costs are not traced to jobs just as direct materials and direct labor costs are traced to jobs

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