Are wages period costs?

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What is a period cost?

Period cost is the cost which must be incurredby business and not influenced with the fact whether there is anyproduction or not in fiscal year.

Period when business activity slows and prices and wages fall?

A depression is a temporary slowdown characterized by reducedpurchasing power, massive unemployment, excess of supply overdemand resulting in falling prices, and a lack of con

Is a direct labor wages a prime cost?

Formula for prime cost is as follows: . prime cost = direct material + direct labor . So according to above mention formula yes it is prime costbecause whitout labor no unit

What is periodic cost?

Periodic cost is that cost which donot related with production ofunits and it must be incurred no matter production is done or notlike depreciation.
In Business Accounting and Bookkeeping

Is Wage payments a fixed cost or Variable cost?

Wages are generally based on an hourly rate, therefore they are generally a variable cost. Think for instance at a manufacturing business and the production of a specific prod
In Business Accounting and Bookkeeping

Is advertising cost a period cost?

Yes advertising cost is period cost as it is not part of productcost and advertisement donot tide up with production of units.
In Economics

How does minimum wage affect the cost of living?

A raise in the minimum wage causes a significant increase in the cost of living. Although less the 1/10 of 1% of people are paid just the minimum wage there are numerous emplo
In Business Accounting and Bookkeeping

Is wages a part of prime cost?

Ifwages are paid of those workers which directly related with the manufacturingor units then wages are part of prime cost otherwise it is part of conversioncost.