What are the differences in the accounting forinventoriable versus period costs?

Q: period cost shown in statement of financial position Ture or false

A: Period cost refers to the cost related to the passage of time. Since it is associated with the…

Q: What is the difference between direct and indirect operating expenses?

A: Direct operating expenses: The expenses that are directly related to the operations of the…

Q: What is the gross profit? [ Select ] How much is the operating expense? | Select I | Select ] How…

A: Solution:- As per the above questions first we required to compute income statement. which helps to…

Q: what is the difference betwwen classifying an expense by nature or function?

A: The costs that are incurred to earn revenues in the process of operating activities of the business…

Q: What effect do minor deviations from the EOQ have on totalinventory cost?

A: Minor variations from the EOQ will not in general highly affect the total inventory cost except if…

Q: Please explain the meaning of a differential revenue or a differential cost.

A:

Q: Define gross pay.

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: Describe the different approaches of expense recognition.

A: Expenses are being recognized when the revenues and relevant expenses are matched for the same…

Q: What is the lnventory·turnover ratio?

A: Inventory turnover ratio: Inventory turnover ratio indicates how many times a corporation has sold…

Q: An example of an expense classifi cation by function is: C . cost of goods sold.

A: Expenses are either classified by nature or by function.

Q: Which of the following are period costs? *

A: Period costs are also known as period expenses. These are expenses that are incurred during a given…

Q: what is period costs?

A:

Q: What is the difference between direct and indirect expenses?

A: Expenses: Expenses are costs incurred for the operations of a business. The costs incurred for…

Q: What is the difference between pay grade and pay range?

A: Pay grade refers to an approach that helps categorize different types of jobs into various groups…

Q: How are costs assigned differently using the average cost method?

A: Inventory valuation is the valuation of inventory at the time of its purchase and sale using…

Q: How do cost management and financial accounting differ?

A: The accounting is a process to identify, classify and record the transactions of the business and…

Q: What is meant by residual income?

A: Net income: The bottom line of income statement which is the result of excess of earnings from…

Q: (a) What are the percentage depletion and the cost depletion allowances?

A: Depletion: It refers to the process of proportionately distributing the cost of the extracting…

Q: What are the usefulness of the gross margin method?

A:

Q: What is a deferral expense?

A: Word "Deferral" means the postponement of something happening.

Q: What is function of expense method?

A: Organisations can opt for either of the options to prepare and report the income statement. They are…

Q: What does period cost include

A: Period costs are the expenses which are typically related to passage of time and not to any…

Q: What is the difference between a contribution approach income statement and a traditionalapproach…

A: Contribution Approach Income Statement: Under this approach, contribution amount is the main focus…

Q: avoidable and unavoidable cost?

A: Costs are the amount incurred for the different purposes of the business. It is defined in monetary…

Q: What is percentage flotation cost, F ?

A: The flotation cost percentage is often measured as the company’s flotation costs calculated as a…

Q: What is the difference between the APBO and the EPBO? What are the components of postretirement…

A: Difference between the APBO and the EPBO:Expected pension benefit obligation (EPBO): The amount of…

Q: What is the difference between classifying an expense by nature or function?

A: Expenses: Expenses means money spent for getting revenue to the entity. It involves cost of…

Q: What was the total amount of the period costs for the period?

A: The period costs include the costs that do not relates to the production, directly or indirectly.…

Q: Define Accounts payable and what are its representative cost driver?

A: Accounts payable: Accounts payable is the obligation of the company to make payment (within period…

Q: The terms period cost and product cost are sometimes used to describe certain items in financial…

A: Definition and distinguishing of the terms- a) Product Cost- these are all the direct cost…

Q: What are the drivers to the cost of revenue

A: The total cost of producing and delivering a product or service to customers is known as the cost of…

Q: How does a contribution margin income statement differ from a traditional income statement?

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: what are the differences of cost, expense, and loss

A: Cost, expense and loss are terms normally used in accounting. They can be measured in terms of…

Q: What is cost management, and how does it differ from management accounting and cost accounting?

A: Cost accounting and management accounting are two different forms of accounting, that is being…

Q: What is the role of Cost Accounting in Price Determination ?

A: The primary difference between fixed as well as variable costs is made in cost accounting.…

Q: What is the difference between gross method and the net method?

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: When preparing cost estimates for account analysis purposes, should the costs be extracted from the…

A: Cost estimation is essential for every company to help managers in relevant decision-making. Cost…

Q: Distinguish between costs that are capitalized and costs that are expensed in the period inwhich…

A: A business cost includes all costs such as capitalized cost, the variable cost, direct or indirect…

Q: What are “initial direct costs” and how are they accounted for by lessees and lessors?

A: Initial Direct Costs: Initial direct costs refer to the costs that a lessor incurs directly while a…