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Is indirect labor cost a period cost?
Indirect labor is considered a period cost because it can't be traced by to the product. If a cost can be traced back to a product, then it is considered a product cost.
Is bad debt expenses considered a product cost?
Bad debt expense is a product cost, depends directly on sales.
Is accounting staff salary a period cost or a product cost?
Accounting staff are considered executive costs which would be a period cost.
Is inventory a fix cost or variable cost?
inventory (i.e. stock) is an asset, not a cost. It is considered a current asset, however may be illiquid depending on the product
Is depreciation on a machine a period cost or product cost?
product cost
Is indirect labor cost a period cost?
Indirect labor is considered a period cost because it can't be traced by to the product. If a cost can be traced back to a product, then it is considered a product cost.
Is research and development a product cost?
No. They are only considered a product cost when contracting with a governmental agency.
Is bad debt expenses considered a product cost?
Bad debt expense is a product cost, depends directly on sales.
Why marginal costing method not Suitable to be used by manufacturer for external financial reporting and tax purpose?
I think..... In marginal costing method only variable cost is considered as product cost and fixed cost is not considered as product cost. But in reality product cost include fixed and variable, thus both variable and fixed costs should be considered while allocating cost. Marginal costing is used for inside reporting and absorption costing is used for outsider to clarify the real cost of product........ Am i right? Please confirm it
Are deliver costs considered an variable cost?
If delivery cost changes with the number of units of product sold then it is variable cost.
Is accounting staff salary a period cost or a product cost?
Accounting staff are considered executive costs which would be a period cost.
How is market failure cause environmental degradation?
It is when the private marginal benefits or costs are not equal to social marginal benefits cost. Therefore, result could be likely market failure.
A normal profit is considered a cost because?
This is the amount required to ensure continued supply of the product.
Is inventory a fix cost or variable cost?
inventory (i.e. stock) is an asset, not a cost. It is considered a current asset, however may be illiquid depending on the product
Which development would most likely cause the supply of a product to decrease?
Government regulations increase the cost of making the product APEX 😁
What is labor cost control procedure?
A procedure through which it is considered by keeping in view economics approach that the cost of labor does not increase its marginal product cost i.e. labor cost less than marginal cost.
Is depreciation on a machine a period cost or product cost?
product cost
