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Is property tax on the production plant a product cost or period cost?
Period
Are property taxes on buildings a period cost or a production cost?
indirect product cost
Is the salary of a psychiatrist a fixed or variable cost?
Variable if the psychiatrist is paid at a certain rate hourly or daily; fixed if the salary is fixed for a given period (i.e.) annually).
Is the salary of a lecturer a fixed or variable cost?
If salary is on per lecture basis then it is variable cost otherwise it is fixed cost.
Harry recently raised his employees' wages which has increased production costs. Which factor did the salary hike affect?
The salary hike affected the cost of labor, which is a key component of production costs. By increasing wages, Harry has raised the overall expenses associated with employing his workforce, impacting the company's profitability and potentially leading to adjustments in pricing or production strategies to maintain financial balance.
Is the production manager's salary is an example of variable cost?
Because the production manager's salary remains the same, regardless of the production level, this salary is a fixed cost, not a variable cost.
Is salesperson salary a period cost?
Yes a salesperson salary would be classified as a period cost.
A fixed cost that would be considered a direct cost is a cost accountant's salary when the cost objective is a unit of product?
a. A Store Manager's salary when the cost object is a unit of product b. An Auditor's Salary when the cost object is the Audit Department c. The Director's fees when the cost object is the Production Department d. A Production supervisor's Salary when the cost object is the Stores dept
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.
Is property tax on the production plant a product cost or period cost?
Period
Is accounting staff salary a period cost or a product cost?
Accounting staff are considered executive costs which would be a period cost.
Is selling cost a period cost?
Yes selling cost not directly relate to production of units that's why it is period cost.
Is rent on equipment period or product cost?
If equipment is still kept whether production done or not then it is period cost as no matter production done or not it has to be paid.
Is maintenance a product cost or period cost?
Maintainence cost is a period cost as maintainence need to be done even if there is no production at all.
Is salary considered a direct or indirect cost in business operations?
Salary is considered a direct cost in business operations because it can be directly attributed to the production of goods or services.
Are property taxes on buildings a period cost or a production cost?
indirect product cost
What is a period cost?
Period cost is the cost which must be incurred by business and not influenced with the fact whether there is any production or not in fiscal year.
