Asked by Yadelis Carmona gonzalez on May 04, 2024
Verified
If selling and administrative expenses are allocated to different products, they should be reported as a
A) cost of goods manufactured
B) factory overhead cost
C) period cost
D) cost of goods sold
Administrative Expenses
Costs related to the general administration of a business, such as salaries of senior executives, accounting, and human resources, that are not directly tied to any specific business activity.
Period Cost
Expenses recognized in the accounting period when they are incurred, not directly linked to production activity.
Selling
The process of persuading a customer to buy a product or service, often involving identifying customer needs, presenting solutions, and closing the sale.
- Differentiate among various cost categories and their significance in the allocation of costs.
Verified Answer
Learning Objectives
- Differentiate among various cost categories and their significance in the allocation of costs.
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