On the income statement, which of the following would be classified as a period cost?
On the income statement, which of the following would be classified as a period cost?
Period Costs
On the income statement, Promotion Expense would be classified as a period cost. Promotion Expense can be classified as period costs because these are the costs that are not included while manufacturing your product.
Importance of Period Cost
Period costs play a crucial role in the operation of the business. Unlike production costs, period costs impact the running of the business, although they are not directly linked to inventories. All indirect expenses that contribute to a business’ financial success are included in period costs.
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