Which of the Following Is Considered a Period Cost

None of these answer choices are considered a period cost. V1 Which of the following is considered a period cost.

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Which of the following is a period cost.

. Depreciation of a machine used in manufacturing 7. Transportation cost on goods received from suppliers. D Administrative expenses are period costs and are expensed when the manufactured product is sold.

B Administrative expenses are period costs and are expensed as incurred. Period costs are all costs not included in product costs. Which of the following is considered a period cost in absorption costing.

Which of the following is considered a period cost in absorption costing. Cost of merchandise purchased. Period Costs General Administrative Costs Selling and Distribution Costs.

The cost of a general accounting office c. Fixed selling and administrative costs. A job order cost system identifies costs with a particular job rather than with a set time period.

Accounting questions and answers. -The wages of a worker paid for idle time resulting from a machine breakdown in the molding department. Which of the following is considered a period cost.

Period costs are expensed when the products associated with these costs are sold. A variable manufacturing overhead costs. Which is not considered an additional cost beyond tuition for higher education.

Period costs are Costs that cannot be capitalized into prepaid expenses inventory or fixed assets. Which of the following would be considered a period cost for a manufacturing business. Administrative salaries expense for the current month.

Most period costs are expensed in the period the costs are incurred. Multiple Choice Transportation cost on goods received from suppliers. Hence this cost is included in the product cost.

Finally costs included in fixed assets such as purchased assets and capitalized interest are not considered to be period costs. Overhead or sales general and administrative costs are considered period. Which is not considered an additional cost beyond tuition for higher education.

Electrical costs to light the production facility. Period Costs Fixed Manufacturing Costs General Administrative Costs Selling and Distribution Costs. B fixed manufacturing overhead costs.

The salary of the company presidents secretary b. Whereas nonmanufacturing costs are those costs that are incurred the other than manufacturing purpose of the product eg Transportation cost etc. 31 Which of the following statements is true of the flow of product and period costs for a manufacturer.

None of the above is considered a period cost. Which of the following costs would be considered a period rather than a product cost in a manufacturing company. Which of the following costs would be considered a period rather than a product cost in a manufacturing company.

Which of the following is considered a period cost. Property taxes on corporate headquarters. If you hire an attorney an accountant or other professional consultant those fees.

Period costs do not adhere to the matching principle. How to Identify a Period Cost If the entire use to which a cost can be put is consumed in the current accounting period such as rent or utilities it is probably a period cost whereas if its use is linked to a. Period costs are not directly tied to the production process.

Property taxes on corporate headquarters. Semi-variable manufacturing overhead costs. C A Transportation cost on goods received from suppliers B Cost of merchandise purchased Advertising expense for the current month None of these answer choices are considered a period cost 2 When are product costs matched directly with sales revenue.

Fixed manufacturing overhead costs. On the other hand costs of goods sold related to product costs are expensed on the income statement when the inventory is sold. Deprecation of a machine used in manufacturing d.

Cost of merchandise purchased. Some of the examples of period cost include selling general and administrative SGA expenses marketing expenses CEO salary and rent expense relating to a corporate office. C Administrative expenses are product costs and are expensed when the manufactured product is sold.

Electrical costs to light the production facility. A When the manufacturing process is completed the costs are transferred to the Work-in-Process Inventory accountB The cost of the finished goods that the manufacturer sells becomes its Cost of Goods Sold on the income statement. Variable manufacturing overhead costs.

The interest paid on a companys debt would be considered period costs as well. CIA adapted -The wages of the workers on the shipping docks who load completed products onto outgoing trucks. C Period costs remain in inventory.

According to managerial and cost accounting period costs are costs that are not associated with or related to the production of inventory. Eg Rent Manager salary etc. As shown in the income statement above salaries and benefits rent and overhead depreciation and amortization and interest are all period costs that are expensed in the period incurred.

Insurance expenses are a period cost. A costs incurred to provide customer service such as the operation of a 800 phone line to trouble shoot product problems and to answer questions about product warranties B the cost of materials used to make a product when those materials are an insignificant part of the finished product. Which of the following statements is true about period costs.

Which one of the following represents a period cost. D semi-variable manufacturing overhead costs. Marketing costs rent not directly related to a manufacturing facility office depreciation and indirect labor are all examples of period costs.

C fixed selling and administrative costs. Period costs are usually recorded as assets. A Administrative expenses are product costs and are expensed as incurred.

Period costs are those costs incurred due to the passage of a specific time period. Which one of the following costs is classified as a period cost. Each of the following would be a period cost except.

Balancing low-cost storage with.

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Period Costs For A Manufacturing Company Would Flow Directly To In 2022 Cost Of Goods Sold Income Statement Period