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svetoff [14.1K]
3 years ago
5

Period costs are the​ ________. A. product costs that must be paid in the accounting period in which they are incurred. B. sam

e as manufacturing overhead costs. C. operating costs that are expensed in the accounting period in which they are incurred. D. costs related to production of products.
Business
1 answer:
-BARSIC- [3]3 years ago
4 0

Answer:

C. operating costs that are expensed in the accounting period in which they are incurred

Explanation:

Non Manufacturing expenses are Period costs. Period Costs are the operating costs that are expensed in the accounting period in which they are incurred. Examples include selling and administrative expenses.

Remember All Manufacturing expenses are Product Costs and are used in Inventory Valuation, Setting Selling Prices and Profit determination.

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Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics.
Taya2010 [7]

Answer:

<h2>Pose-for-Pics</h2>

a) T-Accounts:

Date    Description               Debit        Credit

Common Stock

Aug. 1  Cash                                           $6,500

           Photography Equipment           33,500

Aug. 31 Balance                $40,000

Date    Description               Debit        Credit

Cash Account

Aug. 1  Common Stock     $6,500

Aug. 2 Prepaid Insurance                     $2,100

Aug. 5 Office Supplies                            $880

Aug. 20 Fees Earned        $3,331

Aug. 31 Utilities                                       $675

Aug. 31 Balance                                    $6,176

Date    Description               Debit        Credit

Photography Equipment

Aug. 1  Common Stock   $33,500

Date    Description               Debit        Credit

Prepaid Insurance Account

Aug. 2  Cash                       $2,100

Date    Description               Debit        Credit

Office Supplies

Aug. 5  Cash                       $880

Date    Description               Debit        Credit

Fees Revenue

Aug. 20  Cash                                      $3,331

Date    Description               Debit        Credit

Utilities Expense

Aug. 31  Cash                       $675

b) Trial Balance as of August 31:

Accounts                     Debit       Credit

Cash                          $6,176

Photography Equip 33,500

Prepaid Insurance      2,100

Office Supplies             880

Utilities Expense           675

Common Stock                          $40,000

Fees Revenue                                 3,331

Total                       $43,331        $43,331

Explanation:

a) The Common Stock equals the cash and equipment contribution made by Madison Harris, the owner of Pose-for-Pics.

b) Pose-for-Pics' T-accounts are the general ledger accounts of the company.  They record the individual accounts' transactions for the accounting period, usually a month, which are summarized by the preparation of the trial balance as of month-end.

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Virtual teams are characterized by ________ in comparison to teams which interact face-to-face.A) low popularity among companies
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Answer:

B) low social rapport and direct interaction

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If you spend $400 on a new phone and it
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Answer:

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The unwritten rule is a foreign uncontrollable environmental element that affects the cultural environment of the factory. As a manager, James cannot control or influence this type of events or circumstances, and instead must adapt his facility's operations.

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1.4. Discuss the role of the Competition Commission why it cannot deal with the
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The Competition Commission is a statutory body constituted in terms of the Competition Act, No 89 of 1998 by the Government of South Africa empowered to investigate, control and evaluate restrictive business practices, abuse of dominant positions and mergers in order to achieve equity and efficiency in the South ...

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