[amp_mcq option1=”inventory costs” option2=”product costs” option3=”non-manufacturing costs” option4=”manufacturing costs” correct=”option3″]<\/p>\n
The correct answer is C. non-manufacturing costs.<\/p>\n
Period costs are costs that are not directly associated with the production of goods or services. They are expensed in the period in which they are incurred. Examples of period costs include selling, general, and administrative expenses.<\/p>\n
Inventory costs are costs that are associated with the acquisition or production of goods that are held for sale in the ordinary course of business. They are included in the cost of goods sold on the income statement.<\/p>\n
Product costs are costs that are associated with the production of goods. They are included in the cost of goods sold on the income statement.<\/p>\n
Manufacturing costs are costs that are incurred in the manufacturing process. They include direct materials, direct labor, and manufacturing overhead.<\/p>\n
Selling, general, and administrative expenses are costs that are incurred in the selling, general, and administrative functions of a business. They are not directly associated with the production of goods or services.<\/p>\n
I hope this helps! Let me know if you have any other questions.<\/p>\n","protected":false},"excerpt":{"rendered":"
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