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12. Costs that are treated as assets until the product is sold are called: a. product costs b. period costs C. conversion costs d. selling expenses

12. Costs that are treated as assets until the product is sold are called: a. product costs b. period costs C. conversion costs d. selling expenses

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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12. Costs that are treated as assets until the product is sold are called: a. product costs b. period costs c. conversion costs d. selling expenses 13. The period costs of a textbook printer would include: a. wages of a press operator b. utility costs of factory 508
Transcribed Image Text:12. Costs that are treated as assets until the product is sold are called: a. product costs b. period costs c. conversion costs d. selling expenses 13. The period costs of a textbook printer would include: a. wages of a press operator b. utility costs of factory 508
at was the c. advertising expenses d. paper costs 4 A company used P35,000 of raw materials, incurred P73,000 in direct labor
Transcribed Image Text:at was the c. advertising expenses d. paper costs 4 A company used P35,000 of raw materials, incurred P73,000 in direct labor
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