What is a product cost? Are direct costs fixed and indirect costs variable? What happens when the high-low method ends up with a negative amount? How do I compute the product cost per unit? Is rent expense a period cost or a product cost? Related In-Depth Explanations Accounting ...
Rather, they are reported as expenses on the income statement of the accounting period in which they were incurred. Related Questions Are direct costs fixed and indirect costs variable? Why is the distinction between product costs and period costs important? Is rent expense a period cost or ...
A cost that can be traced to a cost object is known as a(n): A. period cost. B. direct cost. C. inventoriable product cost. D. indirect cost. Costs that are expensed when incurred are called: A) product costs B) direct costs C) inventoriable ...
Identify each of the following as either a direct or indirect cost. (i) Material used in production. (ii) Salary of manufacturing supervisor. (iii) Wages of a manufacturing worker. (iv) Telephone costs. (v) Rent. Which one ...
This strategy is one in which you assign every income dollar to a specific budgeting category, like rent or groceries. If you don't use those dollars, you can roll them over into new categories. "You’ll learn a lot about yourself and your spending habits by adopting this strategy. Only...
Period costs can vary depending on the nature of a business and its operations. Here are some common examples of period costs: Rent or Lease Payments: The cost of renting or leasing office space, manufacturing facilities, or retail space is considered a period cost. These expenses are incurred...
A) labor B) rent C) depreciation on equipment D) health benefits Production Cost Production costs are costs incurred in manufacturing a product that include direct materials, direct labor, and manufacturing overheads. Answer and Explanation:1 ...
A rental purchase allows you to rent a property first and then buy it. Read about how this process works and what you need to look out for in the rental purchase agreement.
within the year, a month-to-month lease may be a better option. Terminating a lease before the end date could cost you. You’ll either have to pay an early termination fee, find another tenant to fill your unit or pay the amount the landlord lost in rent because you moved out early....
your coverage should insure the total rebuilding cost of your home, also known asreplacement cost. This is different from your home’s sale or appraisal value, which also includes your land value. It factors in the costs of construction materials and labor if your home were to need a complet...