Asked by steven belizaire on Jul 04, 2024
Verified
A partial listing of costs incurred at Boylen Corporation during March appears below:
Required:
a. What is the total amount of product cost listed above? Show your work.
b. What is the total amount of period cost listed above? Show your work.
Product Cost
The total expense incurred in the creation of a product, including direct materials, direct labor, and overhead costs.
Period Cost
Expenses that are not directly tied to the production process and are instead expensed in the period they are incurred.
- Recognize and compute both direct and indirect costs associated with manufacturing.
- Acquire knowledge of the differentiation between product costs and period costs.
Verified Answer
DS
Dylan SpeicherJul 05, 2024
Final Answer :
a.Product costs consist of direct materials, direct labor, and manufacturing overhead:
b.Period costs consist of all costs other than product costs:
b.Period costs consist of all costs other than product costs:
Learning Objectives
- Recognize and compute both direct and indirect costs associated with manufacturing.
- Acquire knowledge of the differentiation between product costs and period costs.