Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Period Costs
Some terms are difficult to define. In one school of thought, period costs are the any costs that are not product costs. But, such a description is a stretch, because it fails to consider expenditures which will be of benefit for number of years, such as the cost of acquiring land, buildings, etc. It is the best to relate period costs to presently incurred expenditures which relate to SG&A activities. These costs do not logically link to inventory, and should be expensed in the time incurred.
It is fair to say that the product costs are inventorial manufacturing costs, and the period costs are the nonmanufacturing costs that should be expensed within the time incurred. This distinction is significant, as it paves the way for the relating to financial statements of the product producing the company. And, the relationship between these costs can diverge considerably based upon product produced. A soft drink manufacturer may spend very little on producing the product, but much on selling. On the other hand, a steel mill may have high inventory costs, but very low selling expenses. Managing a business will need you to be keenly aware of its cost its structure.
Martinez Corporation engaged in the following cash transactions during 2012. Sale of land and building $186,710 Purchase of treasury stock 42,130 Purchase of land 39,130
Cost Units - Terms Used in Cost Accounting It is the quantitative units of the service or product in relation to those costs are ascertained. The cost unit will be determined
A company started with $0 in direct materials, purchased $5,000 of materials, and ended with $300 in materials. Direct labor equaled $4,000. The applied overhead for the period was
Most corporations pay quarterly dividends on their common stock rather than annual dividends. Barring any unusual circumstances during the year, the board raises, lowers, or mainta
Surplus Stores Ltd is a company which frequently buy goods in large quantities and makes alterations to the goods before selling. At 31 Dec 2000 the following items were included i
1. Pardee Company plans to sell 12,000 units during the month of August. If the company has 2,500 units on hand at the start of the month, and plans to have 2,000 units on hand at
Describe the meaning of the fixed production overhead variances calculated under the standard absorption costing system and talk about their usefulness to the management of X Ltd.
are eploration costs of a mining industry regarded as an asset or expense or both?
advantage of physical measure
what are the factor for setting costing for a certain machining job
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd