Question: PLEASE HELP!! Classify each of the costs below as either a product cost or a period cost under (a) absorption costing and (b) variable costing.
PLEASE HELP!!
Classify each of the costs below as either a product cost or a period cost under (a) absorption costing and (b) variable costing. Cost Amount Absorption Costing Variable Costing Direct materials 3 per unit Direct labor 4 per unit Variable overhead 2 per unit Fixed overhead $ 400,000 per year $ 0.50 per unit Variable selling and administrative expenses Fixed selling and administrative expenses | 6 300,000 per year
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