Asked by
ntethelelo khayelihle
on Nov 13, 2024
Verified
Period costs include direct materials and direct labor.
Period Costs
Costs that are expensed in the period they're incurred, not directly tied to production activity, such as selling and administrative expenses.
Direct Materials
Raw materials that can be directly attributed to the production of specific goods or services in manufacturing.
Direct Labor
The wages and benefits paid to workers who are directly involved in the production of goods or services.
- Distinguish among various cost concepts such as product costs compared to period costs, and direct costs as opposed to indirect costs.
Verified Answer
TJ
Learning Objectives
- Distinguish among various cost concepts such as product costs compared to period costs, and direct costs as opposed to indirect costs.
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