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
Montana Company signs a five-year capital lease with Elway Company for office equipment. The yearly lease payment is $20,000, and the interest rate is 8%.   1. Compute the cu

Pre-acquisition dividends Pre-acquisition dividends may also arise in the following situations; 1 ) Where the holding company acquires the subsidiary company’s shares cum-div

Q. What do you mean by Married Taxpayers? Married Taxpayers - Taxpayers who are married may file a JOINT RETURN, thus combining their INCOME and expenses. Individuals would be

Great Pumpkin Farms just paid a dividend of $3.50 on its stock.  The growth rate in dividends is expected to be a constant 5 percent per year indefinitely.  Investors need a 16 per

Effect of Resolution The consequences of the resolution to wind up are: 1) The company must cease to carry on its business except so far as is necessary for the beneficial win

On January 1, a company issued and sold a $400,000, 7%, 10-year bong payable, and recieved proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses

2 Individual Research Assignment This assignment is an individual assessment. The research and written submission should therefore be your own work. You will need to submit this as


Analyze one completed M&A transaction from recent times There are two main requirements (1) an analysis of the strategic and economic rationale behind the merger, and (2) an analy

Question : The subsequent data pertain to a shop. The owner has made following sales forecasts for the first 5 months of the coming year.