Which of the Following Is Not a Product Cost

Accounting questions and answers. Only accept the order if the incremental revenue exceeds all product costs.

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Direct materials refers to the cost of the materials which becomes a major part of the finished product.

. D For merchandising companies product costs do not include freight costs. Salaries paid to the top management in the company d. Which of the following would not be treated as a product cost for external financial reporting purposes.

Multiple Choice Direct materials. Which of the following is NOT considered a product cost for a merchandising firm. An employee working directly on assembling a car.

Parts used in the production of an automobile C. Which of the following is true of product costs. The cost of fuel used in the factory.

Wages paid to assembly line workers E. Cost of merchandise purchased for resale. The electricity cost of the office of factory foreman The cost of shipping finished products to customers.

Costs that are not incurred to manufacture a product and therefore cannot be assigned to the product. Ο All variable manufacturing costs. Electricity bill for a manufacturing facility.

Depreciation on a warehouse where raw materials are stored. Product costs are classified as inventory on the balance sheet when the costs are incurred o c. DNeither product costs nor period costs affect the Statement of Retained Earnings.

Cost of merchandise purchased for resale. O Only accept the order if the incremental. Which of the following items is not a product cost.

Product Costs Period Costs. Question 14 Which of the following is not a product cost. Cost of a sales associates salary _____ are the costs incurred by manufacturers to produce their products or incurred by merchandisers to purchase their products.

Depreciation on a factory building. Which of the following costs is not a period cost. Cleaning supplies for an administration building D.

Product costs are the direct costs involved in producing a product. Managers salary at a hotel run by a chain of hotels 4. Raw material wages on labor production overheads rent on the factory etc.

C They are first recorded in an inventory account. The total cost of a product includes the following five elements. A Distribution freight-out B Materials C Direct labor D Manufacturing overhead.

Ο Variable manufacturing overhead. Costs incurred to manufacture a product. Indirect labor in the factory.

This can also be a true statement if the period costs were prepaid ie prepaid advertisingdepreciation. Ο Fixed manufacturing overhead. Identify which cost element is NOT a product cost.

B For external reporting GAAP requires that they be expensed before the products are sold. Salaries of factory workers. Rent for warehouse used to store current direct materials c.

Direct materials used in the current period b. Period costs are a cost which cannot be included in the cost of goods sold and thus is a part of selling and administrative costs which helps in increasing the sale of a product. These costs include materials labor production supplies and factory overhead.

AProduct costs affect only the balance sheetBProduct costs affect only the income statement. All of these answer choices are product costs. Salary of a factory supervisor B.

CPeriod costs affect only the balance sheet. Ο All variable manufacturing costs. View Which of the following is not a product costdocx from ACCOUNTING 504 at University of Phoenix.

Period costs are all costs not included in product costs and are not. Depreciation on the plant installed in the factory. The leather seats of a motorcycle4.

QUESTIONS Which of the following is not a product cost under full-absorption costing. Rent on an office building b. They are raw materials that are an integral part of the finished product and are conveniently and economically traceable to specific units of output Some.

Transportation cost on merchandise purchased from suppliers. A They are expensed in the period they are paid. Which of the following items is not a product cost.

Which of the following is not a product cost. Transportation cost on goods delivered to customers. Example of period cost includes Selling costs advertisement costs commissions depreciation expenses general administrative expenses etc.

Which Of The Following Is Not A Period Cost. Manufacturing and production costs. The real estate tax of.

Steel used in inventory items produced. Transportation cost on goods delivered to customers. Which of the following would not be considered product costs.

The costs involved in creating a product are called Product Costs. Which of the following costs is not a product cost. Which of the following is not a product cost.

Which of the following is not a product cost under variable costing. The cost of the labor required to deliver a service to a customer is also considered a product cost. Ο Variable manufacturing overhead.

Which of the following costs is NOT a product cost. Question 16 When evaluating a special order management should. O Indirect manufacturing costs.

Product costs related to services should include things like compensation payroll taxes and. Repairs on manufacturing equipment d.

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