What is a product cost? a) A cost that is assigned to units of product we make in the current period

Accounting Aug 05, 2020

What is a product cost?

a) A cost that is assigned to units of product we make in the current period.

b) This is a cost that is expensed in the same accounting period in which it is incurred.

c) This is any cost incurred during a specific period of time.

d) To a manufacturing company, this is the same thing as an "inventoriable cost".

Expert Solution

Product costs are the costs that are directly attributable to the cost of goods produced. A product cost that is expensed in the same accounting period in which it is incurred. and according to the matching concept, expenses and incomes should be matched to the same accounting period.

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