Answered: Question 6 Product costs that have…

Question 6 Product costs that have become expenses can be found in: O selling expenses. cost of goods sold. administrative expenses. period costs. « Previous

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Step 1 Introduction

The product cost is the cost including in the manufacturing process of the production. Example, direct labor cost, direct materials, etc.

The period cost is the total cost that is to be expensed in the period, it is incurred. Example, selling and administrative expenses, etc.

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