Are wages period costs?

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Is an hourly wage considered a fixed or variable cost?

Answer . In relation to total wage it is variable cost because as many hours you work as much you get but at other side wage rate with comparison to hour is fixed cost because it does not change from one hour to other hour. For example: if somebody says that i will give you $10 per hour so no ( Full Answer )

Is advertising cost an example of a period cost?

advertising cost is an example of a period cost.advertisement is NOT one way to produce the product.The product,with advertisement or no advertisement will still be produced.

How does a IRS wage levy work. How much do they take per pay period?

Unfortunately, it's not how much they take per pay period. It's how much they leave you. There is a table that they give your employer that tells them how much to leave you in each paycheck, and it depends on how often you are paid and how many exemptions you claimed on your W-4. In general, t ( Full Answer )

What is a wage?

A wage is a compensation, usually financial, received by a worker in exchange for their labor.

Is indirect labor a period cost?

Indirect labor is considered a period cost because it can't betraced by to the product. If a cost can be traced back to aproduct, then it is considered a product cost.

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 confidence in thefuture. Depressions are also sometimes known as "slumps". Majordepressions can last for years.

Are office supplies a period cost?

Most likely yes, because office supplies usually last long timer, e.g. binders, file holders. You just need to purchase some consumable supplies regularly like pens and markers, but that won't cost you too much if you find a nice store with good quality stuff,

Is marketing expense a period cost?

Marketing expense is not a period cost. Typically, marketing expense will be reflected under S&A on th e income statement.

Washington state cost of living for 2009 for wages?

See this link: for cost of living increase figures Effective January 1, 2009, the state minimum-wage rates will increase to $8.55 per hour in Washington and $8.40 per hour in Oregon. ... The cost-of-living increase in Washington was 5.9 perce ( Full Answer )

How can you check your credit reports periodically at no cost?

Under the FACT Act amendments to the Fair Credit Reporting Act, you are entitled to one free credit report from each of the three main credit reporting companies in a 12-month period. Request your free credit report from each company once a year but from a different credit company every four months. ( Full Answer )

Difference between Product cost and Period cost?

Product cost is that cost which is allocated to product and withoutwhich product cannot be manufactured while period cost must beincurred even there is no production in fiscal year.

Differentiate between period cost and product cost?

Period Cost: It is that cost which must be incurred by the company no matter itproduce any product or not. Product cost: Product cost is that cost which is necessary to produce anyproduction units to earn revenue.

What are different between product cost and period cost?

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 ( Full Answer )

Is the cost of living adjustment for wage earners the same?

Not at all. Many if not most wage earners get no cost of living adjustment. Those who do get significantly less than 100% of the cost of living - keep this in mind the next time you hear that wage increases cause inflation!

Explain the cost - output relationship in the short period and long period?

A proper understanding of the nature and behavior of costs is a must for regulation and control of cost of production. The cost of production depends on money forces and an understanding of the functional relationship of cost to various forces will help us to take various decisions. Output is an imp ( Full Answer )

Is factory manager wages direct labor costs?

Factory manager is not directly related to theproduction of units of product so it is not direct labor cost butit is included in overhead costs.

Is repairs on office equipment a period cost?

No Alternate answer: Expenditures that result in a higher capacity or longer economic lifetime of the equipment is considered an asset, and is allocated over the remaining economic lifetime. On the other hand, expenditures for repairs, maintenance, cleaning, etcetera that do not increase the ca ( Full Answer )

Are wages a fixed or variable cost?

wages are variable cost reason being is that wages are being used over and over again and does not remain constant.

How calculate total period cost?

A total period cost is anything that is not prepaid. To calculateperiod cost, just include anything that is charged in the periodincurred.

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 of product can be manufactured.

Is fixed costs is a period costs?

Yes normally fixed costs are period costs because these costs haveto be paid no matter production done or not.

Is direct labor cost a period cost?

Direct labor is a product cost as it is required tomanufacture the units of product, Direct Labor may be a period cost in thatperiod where there is no production but management still paying the labor allsalaries and wages.

Is selling cost a period cost?

Yes selling cost not directly relate to production of units that'swhy it is period cost.

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.

Is direct labor a period cost?

Direct labor is a product cost as it is required tomanufacture the units of product, Direct Labor may be a period cost in thatperiod where there is no production but management still paying the labor allsalaries and wages.

If total benefits in RI are 36 percent of base period wages would this be interpreted as 36 percent of alternate base period wages if applicable?

I put the above question in a terse, punctuation-free form, because that seemed to be what the system wanted. In case anyone wants to see the question in its original form, here it is: I live in a state with an "alternate base period" rule -- which is good for me, since I don't think I would even ( Full Answer )

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 product. A calculation can be made on the labour cost needed (budget), which will later be compared to actual cost incurred. Thes ( Full Answer )

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.

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 employment contracts tied to that number. An example in a collective bargaining agreement may state a particular job will pay 3,4 ( Full Answer )

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.

Is direct materials a period cost?

Direct material is never be aperiod cost because it is required to manufacture units of products so it isproduct cost and it can only be a period cost when there is no production ofgoods but there is a material expenses which is not possible.

Is direct labor product cost or period cost?

Direct labor is a product cost because it varies withthe variation in production volume and without this cost no product could bemanufactured and directly related with the production of goods.