Asked by
Nyree Berberian
on Dec 17, 2024
Verified
The cost of shipping parts from a supplier is considered a period cost.
Period Cost
Expenses on the income statement that are not directly tied to the production process, such as administrative salaries and marketing costs.
Supplier
An entity that provides goods or services to another entity, typically a part of the supply chain.
- Separate period from product costs and realize their significance in financial reporting.
Verified Answer
MI
Learning Objectives
- Separate period from product costs and realize their significance in financial reporting.
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