Period Costs are those cost which cannot be allocated to any particular product. They are incurred to aid the administrative and selling department. The common examples of period cost are interest expense, marketing expense and selling expense. Product Costs are related to the manufacturing of a product. They can be allocated to that particular product. Direct material, direct labor and manufacturing overheads are some of the examples of product cost. 1. To Explain: The difference between period cost and product cost:

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Answer 1

Question

Chapter 18, Problem P18.35BPGB

To determine

Period Costs are those cost which cannot be allocated to any particular product. They are incurred to aid the administrative and selling department. The common examples of period cost are interest expense, marketing expense and selling expense.

Product Costs are related to the manufacturing of a product. They can be allocated to that particular product. Direct material, direct labor and manufacturing overheads are some of the examples of product cost.

1.

To Explain: The difference between period cost and product cost:

To determine

2.

To Identify: The cost which is period cost or product cost.

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Charlotte Metals' operating activities for the year are listed below: Beginning inventory $950,600 Ending inventory Purchases Sales revenue $420,700 $825,900 $1,601,850 Operating expenses $720.7* What is the cost of goods sold (COGS) for the year?

Answer 2

Question

Chapter 18, Problem P18.35BPGB

To determine

Period Costs are those cost which cannot be allocated to any particular product. They are incurred to aid the administrative and selling department. The common examples of period cost are interest expense, marketing expense and selling expense.

Product Costs are related to the manufacturing of a product. They can be allocated to that particular product. Direct material, direct labor and manufacturing overheads are some of the examples of product cost.

1.

To Explain: The difference between period cost and product cost:

To determine

2.

To Identify: The cost which is period cost or product cost.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 18, Problem P18.35BPGB

To determine

Period Costs are those cost which cannot be allocated to any particular product. They are incurred to aid the administrative and selling department. The common examples of period cost are interest expense, marketing expense and selling expense.

Product Costs are related to the manufacturing of a product. They can be allocated to that particular product. Direct material, direct labor and manufacturing overheads are some of the examples of product cost.

1.

To Explain: The difference between period cost and product cost:

To determine

2.

To Identify: The cost which is period cost or product cost.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 4

Question

Chapter 18, Problem P18.35BPGB

To determine

Period Costs are those cost which cannot be allocated to any particular product. They are incurred to aid the administrative and selling department. The common examples of period cost are interest expense, marketing expense and selling expense.

Product Costs are related to the manufacturing of a product. They can be allocated to that particular product. Direct material, direct labor and manufacturing overheads are some of the examples of product cost.

1.

To Explain: The difference between period cost and product cost:

To determine

2.

To Identify: The cost which is period cost or product cost.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 18, Problem P18.35BPGB

To determine

Period Costs are those cost which cannot be allocated to any particular product. They are incurred to aid the administrative and selling department. The common examples of period cost are interest expense, marketing expense and selling expense.

Product Costs are related to the manufacturing of a product. They can be allocated to that particular product. Direct material, direct labor and manufacturing overheads are some of the examples of product cost.

1.

To Explain: The difference between period cost and product cost:

To determine

2.

To Identify: The cost which is period cost or product cost.

Answer 6

Chapter 18, Problem P18.35BPGB

To determine

Period Costs are those cost which cannot be allocated to any particular product. They are incurred to aid the administrative and selling department. The common examples of period cost are interest expense, marketing expense and selling expense.

Product Costs are related to the manufacturing of a product. They can be allocated to that particular product. Direct material, direct labor and manufacturing overheads are some of the examples of product cost.

1.

To Explain: The difference between period cost and product cost:

Answer 7

Chapter 18, Problem P18.35BPGB

To determine

Period Costs are those cost which cannot be allocated to any particular product. They are incurred to aid the administrative and selling department. The common examples of period cost are interest expense, marketing expense and selling expense.

Product Costs are related to the manufacturing of a product. They can be allocated to that particular product. Direct material, direct labor and manufacturing overheads are some of the examples of product cost.

1.

To Explain: The difference between period cost and product cost:

Answer 8

To determine

2.

To Identify: The cost which is period cost or product cost.

Answer 9

To determine

2.

To Identify: The cost which is period cost or product cost.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 18 - Prob. 1QC Ch. 18 - Prob. 2QC Ch. 18 - Dunaway Company reports the following costs for...Ch. 18 - Which of the following is a direct cost of...Ch. 18 - Which of the following is not part of...Ch. 18 - Which of the following accounts does a...Ch. 18 - Questions 7 and 8 use the data that follow....Ch. 18 - Questions 7 and 8 use the data that follow....Ch. 18 - World-class businesses use which of these systems...Ch. 18 - Prob. 10QC

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To Identify: The cost which is period cost or product cost.

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Chapter 18 Solutions

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2. To Identify: The cost which is period cost or product cost.

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Chapter 18 Solutions

2.

To Identify: The cost which is period cost or product cost.