Explain the difference between a product cost and a period cost.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 28% (7 reviews)
A product cost is a cost associated with the products or services offered by a company A perio...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Question Posted:
Students also viewed these Managerial Accounting questions
-
Explain the difference between a product cost and a period cost.
-
What is the difference between a product cost and a selling and administrative cost?
-
Explain the difference between a full product cost and an inventoriable product cost.
-
Show that the sum of the squares of the distances from a point P = (c, d) to n fixed points (a 1 , b 1 ), . . . ,(a n , b n ) is minimized when c is the average of the x-coordinates a i and d is the...
-
Dartmouth Games reported the following information for a three-year period: ____________________ _2014 2013 2012 Ending inventory ..$ 20,000$ 30,000..$ 34,000 Sales... 125,000.128,000...115,000 Cost...
-
Show how to implement GREEDY-SET-COVER in such a way that it runs in time o(EseF IS1). SEF
-
Determine the ratio of shearing strain energy to bending strain energy for the rectangular cantilever beam when it is subjected to the loading shown. The beam is made of material having a modulus of...
-
Balloon, Inc. produces three types of balloonssmall, medium, and largewith the following characteristics: The company has only 2,000 machine hours available each month. Required How many units of...
-
Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions reported the following results. Sales Hardware $ 650,000 Software...
-
Refer to the data in Exercise 6-1 for Ida Sidha Karya Company. The absorption costing income statement prepared by the company's accountant for last year appears below: Sales . . . . . . . . . . . ....
-
What is C-V-P analysis used for? What does it mean to break even?
-
What are the three components of manufacturing costs? Briefly describe them.
-
In 2020, the Margate Corporation acquired an automobile with a cost of $30,000 for use in its business. Shortly thereafter, Margate Corporation experienced a decline in sales. Several employees were...
-
What is meant by the law of consumer demand? Explain the difference between elastic and inelastic demand.
-
How do organizations get feedback regarding their promotions via the Internet? Find several examples of ways of providing sports marketers with feedback about their promotions.
-
What are the organizational design elements that must be managed for effective implementation?
-
Find an example of a comparative advertisement. What do you believe are the advantages and disadvantages of this type of message?
-
How can we evaluate sponsorship effectiveness?
-
Santos Co. is preparing a cash budget for February. The company has $20,000 cash at the beginning of February and anticipates $75,000 in cash receipts and $100,250 in cash payments during February....
-
Refrigerant R-12 at 30C, 0.75 MPa enters a steady flow device and exits at 30C, 100 kPa. Assume the process is isothermal and reversible. Find the change in availability of the refrigerant.
-
Use Theorem 1 to determine the limit of the sequence or state that the sequence diverges. THEOREM 1 Sequence Defined by a Function If lim f(x) exists, then the se- XIX quence an= f(n) converges to...
-
Seattle Western University has provided the following data to be used in its service department cost allocations: Required: Using the direct method, allocate the costs of the service departments to...
-
Madison Park Co-op, a whole foods grocery and gift shop, has provided the following data to be used in its service department cost allocations: Required: Using the step-down method, allocate the...
-
The Ferre Publishing Company has three service departments and two operating departments. Selected data from a recent period on the five departments follow: The company allocates service department...
-
This project requires an investment in fixed assets, at time 0, of 44,000,000. Assets will be depreciated straight line in 5 years. This project has a 4 year life. The revenues for each of the 4...
-
Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year - end, the Work in Process Inventory account shows the following. Work in Process Inventory Date Explanation...
-
T-bill with a $10,000 par has 174 days until maturity. The T-bill has a bank discount bid quote of 2.208% and ask quote of 2.198%. What is the return on the investment in this T-bill if the trader...
Study smarter with the SolutionInn App