Which of the Following Is a Period Cost

Some of the examples of period cost include selling general and administrative SGA expenses marketing expenses CEO salary and rent expense relating to a corporate office. A cycle loss coincides more strongly with the flow of time than with a programmatic case.

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04012017 Question 00506677 Subject Accounting Topic Accounting Tutorials.

. According to managerial and cost accounting period costs are costs that are not associated with or related to the production of inventory. Product costs are classified as inventory on the balance sheet when the costs are incurred o c. Which Of The Following Is Not A Period Cost.

3 Show answers Another question on Business. Cost of merchandise purchased. Period costs noninventoriable costs all costs in the income statement other than cost of goods sold administrative marketing treated as expenses of the accounting period in which they are incurred for manufacturing companies all non-manufacturing costs are period costs.

Transportation cost on goods received from suppliers. Period costs are more closely related to the passage of time than they are to transactional events. Answer D is correct.

Period costs are basically all costs other than product costs. Period Costs Period cost refers to any expense that cannot be capitalized into prepaid expenses inventory or fixed assets. All of the following costs should be charged against revenue in the period in which costs are incurred except for a.

As period cost is always charged In Managerial Accounting. Administrative salaries expense for the current month. Such cost are recorded or charged to expense when they incurred in the period.

0 Factory lease is a period cost and sales commissions are a period cost. Cost of disposal of hazardous. Example of period costs are advertising sales commissions office supplies office depreciation legal and research and development costs.

Rent on a factory building B. 300 Posted By. Which of the following is a period cost.

Commissions paid on each unit sold. Raw materials cost D. Which of the following is considered a period cost.

Indicate whether each of the following should be considered a product cost or a period cost. A GROSS EXPENSE B OPERATING EXPENSE C NET EXPENSE D COST OF GOODS SOLD Answers. For instance the answer to the Example item is indirect product cost.

SGA includes costs of the corporate office selling marketing and the overall administration of company business. Property taxes on factory building. Rent on a factory building B.

They cannot be capitalized on a companys balance sheet. It includes advertising expense selling expense commission sales promotion expense office rent etc. The union has a total area of 42332553 km 2 16344690 sq mi and an estimated total population of about 447 million.

Are expensed in the same period in which they are incurred. It includes rent paid for the office the commission received etc. A period cost refers to the cost which can not be elaborated into deferred production or capital equipment expenditures.

Janitorial supplies used in a factory D. Manufacturing overhead costs for a product manufactured and sold in the same accounting period. None of the above is considered a period cost.

Abnormal spoilage is not inherent in a production process and should not be categorized as a product cost. Overhead or sales general and administrative SGA costs are considered period costs. Period costs are thus expensed in the period in which they are incurred.

Depreciation on production equipment C. 0 Factory lease is a product cost and sales commissions are a. This cost is more associated with passage of time.

Abnormal spoilage is an example of a period cost. Arecession is defined as a period in which. Period cost The cost that is not related to the production of a product either directly or indirectly is known as period cost.

Costs from idle manufacturing capacity resulting from an unexpected plant shutdown. 0 Factory lease is a period cost and sales commissions are a product cost. Are always variable costs.

Period costs are not assigned to one particular product or the cost of inventory like product costs. PLEAASE WHICH OF THE FOLLOWING IS A TOTAL COST OF BUYING OR PRODUCING THE FIRMS GOODS OR SERVICES. Be categorized as a product cost.

The European Union EU is a political and economic union of 27 member states that are located primarily in Europe. Indirect production labor wages C. Materials labor and overhead both fixed and variable are examples of.

Abnormal spoilage should be charged to a loss account in the period that detection of the spoilage occurs. If you identify the item as a product cost also indicate whether it is a direct or an indirect cost. Managers salary at a hotel run by a chain of hotels 4.

Which of the following is true regarding period and product costs. Abnormal spoilage is not inherent in a production process and should not. Which of the following is not a product cost component.

Which of the following is a period cost. Commission on the sale of a product 65. Since a time expense is practically often paid to spend at once a period payment may more aptly be named.

Which of the following is a period cost Offered Price. Wrong - Your answer is wrong. An internal single market has been established through a standardised system of laws that apply in all member states in those matters and.

Abnormal spoilage is an example of a period cost. 04012017 0434 AM Due on. Multiple Choice 0 Factory lease is a product cost and sales commissions are a product cost.

Materials labor and overhead both fixed and variable are examples of product costs. Costs which will not benefit any future period.

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