Asked by Christian Broussard on Jul 04, 2024
Verified
Indirect materials used
A)Product cost
B)Period cost
Indirect Materials
Materials used in the production process that cannot be directly traced to a finished product, such as lubricants and adhesives for machinery.
Product Cost
The total expense incurred to produce and deliver a product or service, including materials, labor, and overhead costs.
Period Cost
Costs incurred that do not directly relate to the production of goods, such as sales and administrative expenses.
- Detect and classify distinct kinds of costs in the context of a manufacturing setting.
- Learn to classify direct materials, direct labor, and manufacturing overhead as vital to determining product costs.
Verified Answer
DS
Learning Objectives
- Detect and classify distinct kinds of costs in the context of a manufacturing setting.
- Learn to classify direct materials, direct labor, and manufacturing overhead as vital to determining product costs.