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Differentiate between product costs and period costs. Give concrete examples of product costs and period costs What...

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Accounting

  1. Differentiate between product costs and period costs. Giveconcrete examples of product costs and period costs
  1. What are the 3 classes of manufacturing costs? Give concreteexamples for each.
  1. Explain variable, fixed, and mixed costs and give concreteexamples of each.

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Product costs are those directly related to the production of a product or service intended for salePeriod costs are all other indirect costs that are incurred in production Overhead and sales marketing expenses are common examples ofperiod costs Examples of product costs are direct materials direct labor and allocated factory overhead Examples of period costs are general and administrativeexpenses such as rent office depreciation office    See Answer
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Differentiate between product costs and period costs. Giveconcrete examples of product costs and period costsWhat are the 3 classes of manufacturing costs? Give concreteexamples for each.Explain variable, fixed, and mixed costs and give concreteexamples of each.

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