which of the following costs do not go directly into the work in process account? course

Where are period costs expensed?

What are indirect labor costs?

What is considered manufacturing overhead?

Do period costs flow through inventory accounts?

Is period cost included in cost of goods?

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Where are period costs expensed?

period costs are always expensed on the income statement in the period in which

What are indirect labor costs?

T or F labor costs that can be specifically traced to a product are indirect labor costs

What is considered manufacturing overhead?

T or F all of a company's depreciation, property taxes and insurance premiums are considered manufacturing overhead

Do period costs flow through inventory accounts?

a) period cost do not flow through the inventory accounts

Is period cost included in cost of goods?

a) period costs are included as part of the cost of goods

When you acquire a long-term asset, can you include directly attributable costs to the initial measurement of its?

When you acquire a long-term asset, you can include directly attributable costs to the initial measurement of its cost.

Do we take vacation time into account?

Here, we do not take the paid vacation time into account for allocation purposes. It means that a compensation for paid vacation will be allocated to the cost of a ship. The reason is that a company is obliged to provide this vacation to its employees and a vacation is simply another cost of worked hours.

Does a CFO need an insurance policy?

Hmmm, a good argument, but the truth is that the CFO needed an insurance policy to get a loan and not to acquire an asset. In other words, that company could have acquired a plant without a loan, with a cash payment and in such a case, no insurance policy would be necessary. Operating lease expenses for land.

Is PPE capitalized in IAS 16?

As opposed to that, the paragraph 19 of IAS 16 lists examples of costs that are not costs of an item of PPE and therefore, cannot be capitalized:

Where are period costs expensed?

period costs are always expensed on the income statement in the period in which

What are indirect labor costs?

T or F labor costs that can be specifically traced to a product are indirect labor costs

What is considered manufacturing overhead?

T or F all of a company's depreciation, property taxes and insurance premiums are considered manufacturing overhead

Do period costs flow through inventory accounts?

a) period cost do not flow through the inventory accounts

Is period cost included in cost of goods?

a) period costs are included as part of the cost of goods