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Is factory heating costs classified as a product cost or period cost?
Factory heating cost is overhead cost and part of product cost as if there is no production there is no factory heating requires.
Are factory repairs a period cost?
Factory repairs are not typically considered a period cost; they are usually classified as a manufacturing overhead cost. Period costs are expenses that are not tied to the production process, such as selling and administrative expenses. Since factory repairs are necessary for maintaining production capabilities, they are treated as part of the cost of goods sold, impacting inventory valuation rather than being expensed in the period incurred.
Is factory equipment product or period cost?
It is period cost
Is salaries of factory security guards a period cost or product cost?
Period cost
Is depreciation on factory equipment a period cost?
It's a Product cost. Think Selling (Store) and Administrative(Office) cost for period cost. The machines are in the factory.
Is factory heating costs classified as a product cost or period cost?
Factory heating cost is overhead cost and part of product cost as if there is no production there is no factory heating requires.
What is difference between product cost period cost and expenses?
Product costs is the costs are the costs incurred in the making of the product. Manufacturing costs --Direct Materials, Direct Labor, and Manufacturing Overhead. Product cost are also factory costs Period costs are the selling and administration costs. Electricity costs for the Accounting dept. is an administration costs but Electricity costs for the factory is Manufacturing Overhead.
Is salary of factory manager a period cost?
Salary of factory manager is Manufacturing overhead. and Manufacturing overhead is Product costs. So, It's not period cost.
Are factory repairs a period cost?
Factory repairs are not typically considered a period cost; they are usually classified as a manufacturing overhead cost. Period costs are expenses that are not tied to the production process, such as selling and administrative expenses. Since factory repairs are necessary for maintaining production capabilities, they are treated as part of the cost of goods sold, impacting inventory valuation rather than being expensed in the period incurred.
Is factory equipment product or period cost?
It is period cost
Is salaries of factory security guards a period cost or product cost?
Period cost
Is depreciation on factory equipment a period cost?
It's a Product cost. Think Selling (Store) and Administrative(Office) cost for period cost. The machines are in the factory.
Is factory supplies a product cost or period cost?
Product cost
Is factory supplies a product or a period cost?
Product cost
Is sales commission expense a period cost?
Yes, period costs are non manufacturing costs
How is the total cost of a factory or other production site determined?
Fixed costs plus variable costs.
How is the total cost of a factory of other production site determined?
Fixed costs plus variable costs.
