Describe the concept of cost behavior and the differences between fixed, variable, and mixed costs.

Differentiate product costs from period costs and direct costs from indirect costs.

Compare the different types of income statements and the purposes of each.

Please explain to the best of your knowledge one or more of the following:

1- Product Cost .

2- Period Cost..

3- Opportunity Cost

4- Sunk Cost

5- Shut -down Costs

6- Applied manufacturing overhead.