Which of the following is a period cost

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The remaining $4.50, which is 5% of the drug cost ($3) and 75% of the dispensing fee ($1.50) paid by the drug plan, doesn't count toward Mrs. Anderson's out-of-pocket spending. If you have a Medicare drug plan that already includes coverage in the gap, you may get a discount after your plan's coverage has been applied to the drug's price.

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Costs may be classified as product costs and period costs. This classification is usually used for financial accounting purposes. A brief explanation of product costs and period costs is given below: Product costs: Product costs (also known as inventoriable costs) are those costs that are incurred to acquire or manufacture a product. For a manufacturing […]Fixed costs remain fixed regardless of change in volume of output. Fixed cost is a definite amount which must be spent in the short period. Whether there is production or no production fixed cost must be incurred. Thus fixed costs are those which are incurred in hiring fixed factors whose amount cannot be altered in the short run.

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Costs may be classified as product costs and period costs. This classification is usually used for financial accounting purposes. A brief explanation of product costs and period costs is given below: Product costs: Product costs (also known as inventoriable costs) are those costs that are incurred to acquire or manufacture a product. For a manufacturing […]

Which of the following is a period cost: a. Selling expenses b. Prepaid rent c. Direct labour d. Manufacturing overhead Which of the following is a product cost a. Commissions b. Depreciation Expense c. Wage expense d. C) Compute cost-of-goods-sold for 2005, using absorption costing, assuming the company uses LIFO. 15-10: The Arcata Bicycle Company began operations on January 1, 2000 with no inventory. The company makes one product, a touring bike. Following is information for production and sales for Arcata’s first two years of operations.