Product costs and which are period costs, Financial Accounting

The costs that follow were extracted from the accounting records of various different manufacturers:

1.    Weekly wages of an equipment maintenance worker
2.    Marketing costs of a soft drink bottler
3.    Cost of sheet metal in a Honda automobile
4.    Cost of president's subscription to Fortune magazine
5.    Monthly operating costs of pollution control equipment used in a steel mill
6.    Weekly wages of a seamstress employed by a jeans maker
7.    Cost of compact discs (CDs) for newly recorded releases of Rush, Billy Joel, and Bryan Adams

a.    Determine which of these costs are product costs and which are period costs.

b.    For the product costs only, determine those that are easily traced to the finished product and those that are not.

Posted Date: 3/16/2013 2:44:20 AM | Location : United States







Related Discussions:- Product costs and which are period costs, Assignment Help, Ask Question on Product costs and which are period costs, Get Answer, Expert's Help, Product costs and which are period costs Discussions

Write discussion on Product costs and which are period costs
Your posts are moderated
Related Questions
Q. Show the Basis of weightings? (i) Both costs of capital (Ke and Kd) as well as the WACC have been calculated using current   ex-dividend (ex-interest) market values rather t

how do i write an assignment about financial decision making

Q. What is fair value in stock market? Fair value - Amount at which an asset (or liability) could be bought (or incurred) or sold (or settled) in a current transaction between

Write  the advantages and drawbacks of both the structured and object-oriented (OO) paradigm in programming. Describe the perceived preference of OO languages over the more structu

Retirement benefits 1)      Provident fund and family pension: a.       Contribution to PF and PPF are provided for and payments in respect thereof are made to the relevant


Q. What is Audit Sampling? Audit Sampling - Application of an AUDIT procedure to less than 100% of items within anaccount BALANCE or class of transactions for purpose of evalua

Mr. Surya does not keep a systematic record of his transactions. He is able to give you the following information regarding his assets and liabilities. 2000 2001 Dec. 31 Dec. 3

“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.

Inventory Control Ratios For reasons of monitoring the effectiveness of inventory management this is useful to look at the subsequent ratios and indexes: Overall Inventory Tu