Is cost-of-goods a product cost or a period cost?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
The costs associated with goods sold a...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Question Posted:
Students also viewed these Cost Accounting questions
-
Define transportation-out. Is it a product cost or a period cost for the seller?
-
Is cost of goods sold deductible as a business expense for a business selling inventory? Explain.
-
Why is cost of goods manufactured entered in the Statement of Cost of Goods Manufactured Credit and the Income Statement Debit columns on a work sheet?
-
Cost-Volume-Profit (CVP) analysis can be used to determine the effect of changes in costs and volumes on a company's net profits. This project assignment assumes that you are newly hired as an...
-
Compute the annual dollar changes and percent changes for each of the following accounts. _____________________________2015 ____________2014 Short-term investments . . . . . . . . $374,634...
-
The manometer equation is $\Delta \Phi=-\Delta ho g \Delta h$, where $\Delta \Phi$ is the difference in the total pressure plus static head $(P+ho g z)$ between the two points to which the manometer...
-
Scientists at NASA collected data to study which forces, including both natural and human factors, are responsible for the increase in observed temperature in the last two centuries. Go to http://www...
-
First National Bank hired Longdon as a secretary and obtained a surety bond from Belton covering the bank against losses up to $100,000 resulting from Longdons improper conduct in the performance of...
-
Over the past year private equity firms have been extremely active in financing management by outs of under performing or undervalued businesses. What risk factors might pertain to a private equity...
-
On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: During January 2021, the following transactions occur: January 2 Provide services to customers...
-
Is cost-of-goods sold an expense?
-
What are the similarities between the Direct Materials Inventory account of the manufacturer and the Merchandise Inventory account of the merchandiser? Are there any differences between the two...
-
What is operating capital, and why is it important?
-
What control activity should the firm implement when the system verifies that all payroll payments have a valid employee identification number as entered by the HR department? Describe.
-
why all counties should use the same international accounting standard? pls provide some arguments to support it
-
What should I include when it comes to comprehensive full-charge bookkeeping services and include account set up?
-
There is a holding cost of $5 per unit-week and a shortage cost of $10 per unit-week. These costs are computed based on the ending inventory. What formula should be entered in cell F15, so that the...
-
if a company produces more product than they planned in their budget, will that impact the overhead amount in terms of under or over applied overhead?
-
Identify and describe the Big Five personality dimensions, and specify which one is correlated most strongly with job performance.
-
Complete problem P10-21 using ASPE. Data from P10-21 Original cost ................................................................. $7,000,000 Accumulated depreciation...
-
Estimate the change in U when this compound melts at atmospheric pressure
-
As an analyst at Delta Airlines, you are asked to help the operations staff. Operations has identified a new method of loading baggage that is expected to result in a 30 percent reduction in labor...
-
Bettys Fashions operates retail stores in both downtown and suburban locations. The company has two responsibility centers: the City Division, which contains stores in downtown locations, and the...
-
State University Business School (SUBS) offers several degrees, including Bachelor of Business Administration (BBA). The new dean believes in using cost accounting information to make decisions and...
-
Higgins Company began operations last year. You are a member of the management team investigating expansion ideas that will require borrowing funds from banks. On January 1 , the start of the current...
-
On April 1, 2021, Windsor, Inc. purchased $615,000 of 6% bonds for $639,225 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on...
-
Use the graphical method for linear programming to find the optimal solution for the following problem. Minimize C=3x+15y subject to 2x + 4y 12 5x + 2y 10 and x 0, y 0.
Study smarter with the SolutionInn App