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Is depreciation on a machine a period cost or product cost?
product cost
Is factory supplies a product or a period cost?
Product cost
Is factory equipment product or period cost?
It is period cost
Is rental revenue a product cost or period cost?
Rental revenue is typically considered a period cost, as it is associated with the cost of occupying a space over a specific time period rather than being directly tied to the production of goods or services. Period costs are expensed in the period they are incurred, unlike product costs, which are capitalized as inventory until sold. Therefore, rental revenue does not fall under product costs but rather aligns with expenses recognized in the income statement for that period.
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 depreciation on a machine a period cost or product cost?
product cost
Is factory supplies a product cost or period cost?
Product cost
Is factory supplies a product or a period cost?
Product cost
Is factory equipment product or period cost?
It is period 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.
How does accuring period costs to the time of the product sale impact the income statement?
The impact is to increase expenses and therefore reduce net income. Is this a cost account ing class?
Cost of a delivery truck is a period cost or product cost?
Should typically be a product cost.
Differentiate between period cost and product cost?
Period Cost: It is that cost which must be incurred by the company no matter it produce any product or not. Product cost: Product cost is that cost which is necessary to produce any production units to earn revenue.
Product costs appear on the income statement in the form of?
Product cost appear on the income statement as cost of goods sold and on the balance sheet as inventory.
Is depreciation on office equipment classified as a period cost or product cost?
period cost
Is salaries of factory security guards a period cost or product cost?
Period cost
Production supervisor's salary period cost?
no...product cost
