Regarding product and period cost

Assignment Help Financial Accounting
Reference no: EM13747269

Which of the following statements is true regarding product and period cost?

a. Office salaries expense is a product cost and factory maintenance is a period cost?

b. office rent is a product cost and supervisors salaries expense is a period cots?

c. Factory rent is a product cost and advertising expense is a period cost?

d. Delivery expense is a product cost and inderect materials are a period cost?

e. Sales commissions is a product cost and indirect labor is a period cost?

Reference no: EM13747269

Questions Cloud

Governmental activities and appropriate fund journals : Prepare in general journal form the necessary entries in the governmental activities and appropriate fund journals for each transaction. Explanations may be omitted. For each entry you prepare, name the fund in which the entry should be made.
Accounts of the summer employment grant fund : On January 1, 2015, the first day of its fiscal year, the city of Carter received notification that a federal grant in the a month of $650,000 was approved. Teh grant was restricted for the payment of wages for teenagers for summer employment. The te..
Physical units in ending goods in process inventory : The number of equivalent units of production assigned to ending goods in process inventory should be equal to or less than the number of physical units in ending goods in process inventory?
Accounts receivable-land and other operation expenses : List the following by their liquidity: Accounts receivable, Land, Other assts, Other operation expenses, Building & equipment, cash, prepaid expenses, rent expenses, dividends declared, supplies, training expenses, travel expenses, general and admini..
Regarding product and period cost : Which of the following statements is true regarding product and period cost? Office salaries expense is a product cost and factory maintenance is a period cost? office rent is a product cost and supervisors salaries expense is a period cots?
Exclude the impact of outstanding stock awards : In periods when we recognize a net loss, we exclude the impact of outstanding stock awards from the diluted loss per share calculation as their inclusion would have an ant dilutive effect.
Employees check item availability using enterprise database : BamBoo Furniture customers view and make furniture selections on the show room floor. Employees check item availability using the enterprise database. If the items are available in the warehouse, the employee obtains the customer information to place..
Magpie corporation can deduct interest expense : Malcolm owns 60% and Buddy owns 40% of Magpie Corporation. On July 1, 2014, each lends the corporation $53,200 at an annual interest rate of 14%. Malcolm and Buddy are not related. Both shareholders are on the cash method of accounting, and Magpie Co..
Income statement and more complex income statement : Consider the simple income statement and the more complex income statement discussed in this chapter.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd