Ask Question
BusinessBusiness
3 April, 12:03

A product cost is:

a. an expense allocated by a systematic procedure.

b. recognized during the period in which a liability is incurred.

c. recognized in the period during which related revenue is recognized.

d. recognized in the period in which cash is spent.

+1
Answers (1)
  1. 3 April, 15:00
    0
    c. recognized in the period during which related revenue is recognized.

    Explanation:

    The product cost is that cost which is directly related to the product. The formula to compute the product cost is shown below:

    = Direct materials used + Direct labor + manufacturing overhead

    It considers the direct material, direct labor, and manufacturing overhead. It is recognized in that year when the revenue is recognized. So, the correct option is c.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A product cost is: a. an expense allocated by a systematic procedure. b. recognized during the period in which a liability is incurred. c. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Briefly explain the rationale for the osh act
Answers (1)
What is likely to happen if the price of a product goes up? A. The supply is likely to increase. B. The supply is likely to decrease. C. The demand is likely to cause scarcity. D. The demand is likely to increase.
Answers (2)
A patent: Group of answer choices includes articles or processes falling under the category of physical phenomena or abstract ideas. creates a permanent monopoly thereby discouraging the creation and utilization of new products and technologies.
Answers (1)
Bob owns twenty acres of land on the side of a mountain in Colorado. He files a suit against the Durango Flight School, claiming that its planes flying over his land violate his property rights. To succeed, his best argument is
Answers (1)
What happens when you are sued for more money than you have?
Answers (1)
New Questions in Business
What is the set of official government statistics on aggregate economic activity in production, income, investment and savings?
Answers (1)
Bree's Tennis Supply's market-to-book ratio is currently 9.4 times and PE ratio is 20 times. If Bree's Tennis Supply's common stock is currently selling at $20.50 per share, what is the book value per share and earnings per share?
Answers (1)
Which of the following conditions were present in over 80% of paddling fatalities from 1995-2000
Answers (1)
Mrs. Smith operates a business in a competitive market. The current market price is $8.10. At her profit-maximizing level of production, the average variable cost is $8.00, and the average total cost is $8.25. Mrs. Smith should
Answers (1)
O to save the environment Personal qualities are responsibility, self esteem, sociability, self management, integrity and honesty. O True False Most new jobs will be in
Answers (1)
Home » Business » A product cost is: a. an expense allocated by a systematic procedure. b. recognized during the period in which a liability is incurred. c. recognized in the period during which related revenue is recognized. d.
Sign Up Forgot Password?