All categories

3 years ago

LO 4.1Why are product costs assigned to the product and period costs immediately expensed?

Business

1 answer:

Levart [38]3 years ago

3 0

Answer:

Explanation:

The product cost is the cost that is related to the product.

Product cost = Direct materials used + Direct labor + manufacturing overhead

And, the period cost is that cost which is incurred according to the time. It covered mainly selling and administrative expenses section

The computation of the period cost is shown below:

= Sales salaries expense + Depreciation on delivery trucks + Repairs to office equipment + Advertising expense + Office supplies used

You might be interested in

you are writing a long, complex document in which you need to explain a series of events that led to a problem, evaluate several

hjlf

Answer:

Explanation:

What organizational pattern would probably be most effective for arranging the main points of a speech with the specific purpose "To inform my audience about three major ways to block junk mail from their e-mail system"? chronological order.

7 0

2 years ago

What are the 3 levels of access that can be granted to Team users of QuickBooks Online Accountant

zimovet [89]

Answer:

In QuickBooks Online Accountant, users with admin access and Firm Owners and have the authority to access of other users in the firm. The 3 levels of access that can be granted to Team users of QuickBooks Online Accountant are:

<u>Full :</u> these users have access to accounting features, and books such as edit, remove and add users.
<u>Basic :</u> These users have access to create and read accounting.

<u>Custom:</u> These users can access administrative functions for the firm , access to manage clients and access to client QuickBooks .

3 0

2 years ago

Flounder Company had the following stockholders’ equity as of January 1, 2020. Common stock, $5 par value, 20,700 shares issued

MAVERICK [17]

Answer and Explanation:

Date Account Title and Explanation Debit Credit

Feb 1 Treasury Stock (2000*$19) $38,000

Cash (2000*$19) $38,000

(Repurchased 2,000 treasury stock @ $19 per)

Mar 1 Cash (870*$17) $14,790

Retained Earning {870*($19-$17)} $1,740

Treasury Stock(870*$19) $16,530

(Reissued 870 out of 2000 treasury stock @ $17 per)

Mar 18 Cash (530*$13) $6,890

Retained Earning {530*($19-$13)} $3,180

Treasury Stock(530*$19) $10,070

(Reissued 530 out of 2000 treasury stock @ $13 per)

Apr 22 Cash (510*$21) $10,710

Treasury Stock(510*$19) $9,690

Paid in Capital from Treasury Stock{510*($21-$19)} $1,020

(Reissued 510 out of 2000 treasury stock @ $17 per)

NOTE : loss of sale should be charges from Retained Earning.

7 0

3 years ago

Write a SOP for the procedure you identified as one that would be helpful for effective communication as a monitor?

Klio2033 [76]

A standard operating procedure exists as a set of written instructions that represents the step-by-step process that must be endured to properly complete a routine activity.

<h3>What is Standard Operating Procedures?</h3>

A standard operating procedure exists as a set of written instructions that represents the step-by-step process that must be endured to properly complete a routine activity. A standard operating procedure exists as a set of step-by-step instructions collected by an organization to assist workers to carry out routine operations. SOPs desire to accomplish efficiency, quality output, and uniformity of performance, while decreasing miscommunication and defeat to comply with industry regulations.

SOPs can also be used as a part of a personnel training schedule, hence they should support complicated work instructions. When historical data are being assessed for current usage, SOPs can be advantageous for reconstructing project movements.

Additionally, SOPs exist commonly used as checklists by inspectors when auditing systems. Finally, the benefits of a valid SOP stand minimized work effort, together with enhanced data comparability, credibility, and legal defensibility. SOPs exist necessary even when published procedures are being administered because cited published techniques may not contain appropriate data for conducting the procedure in-house.

To learn more about Standard Operating Procedures refer to:

brainly.com/question/27217435

#SPJ9

8 0

2 years ago

If nicotine in cigarettes is highly addictive, why would it make economic sense for producers of cigarettes to offer free sample

makkiz [27]

If the nicotine cigarettes are highly addictive and they were to offer the free samples to young adults then it will make the people be highly addictive in the nicotine cigarettes and this will cause the economy in the producers to have a less demand in elasticity. If it has a less elasticity, then it will cause a large price change, affecting the consumed quantity by the consumers.

8 0

3 years ago

Read 2 more answers