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3 years ago

Product costs are expensed when they are incurred. This statement is.

Business

1 answer:

lord [1]3 years ago

5 0

The statement that product costs are expensed when they are incurred is <u>False.</u>

<u></u>

<h3>What are product costs?</h3>

In managerial accounting, product cost is any expense associated with the creation of a product, whether direct or indirect.

The expenses of product costs are:

Direct materials,
Direct labor, and
Manufacturing overhead.

These costs are not expensed till the product is completely sold, then they are displayed on the income statement as the cost of goods sold.

Therefore, we can conclude that product costs are expensed when inventory is sold to customers.

Learn more about product cost here:

brainly.com/question/25790940

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2 years ago

A trade deficit means that net exports are positive. <br> a. True <br> b. False

pentagon [3]

The answer you are looking for is false.
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3 years ago

Clark wanted his workers to work for twelve hours every day instead of the eight hours they were supposed to. The workers were n

djyliett [7]

Answer:

a. soldiering

Explanation:

According to my research on scientific management studies, I can say that based on the information provided within the question this behavior of the workers is known as soldiering. This term is when a group of workers pressure each other to maintain the work-flow and productivity low, since if productivity is maintained low then the wages would stay up.

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3 years ago

Net realizable value of receivables is gross receivables minus multiple choice provision for credit losses and estimated returns

algol [13]

Net realizable value (NRV) of receivables is the gross receivables minus returns & allowances and the provision of credit losses.

Option A is the correct answer.

<h3>What are receivables?</h3>

Receivables are the amount that is earned by the company from the debtors concerning the credit sales after a certain period of time.

Net receivable value (NRV) is the amount that is being realized after disposing of the asset. It is computed by deducting the provision of credit losses, that is, the bad debt charges, the return on sales, and the allowances, that is, discounts on sales from the gross amount of accounts receivables.

Therefore, the amount of sales returns, sales discounts, and provision of credit losses are get deducted from the gross receivables while computing the NRV.

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2 years ago