eygandts Accounting Principles 12e Practice Assignment Grade

eygandts Accounting Principles, 12e Practice Assignment Gradebook ORION Downloadable eTextbook signment ES B80 What costs flow directly to the profit and loss statement in the current accounting period? Period costs. Product costs General costs Balance sheet costs. Capitalized costs Question Attempts: O of 2000-2018John Wiley & Sons.Inc. Au Rights Reserved. A Division of John Yie ASonstre 3

Solution

1 Period costs directly flow to the profit and loss statement 2 The cost of labor not directly associated with specific units is called Indirect labor 3 Variable costs per unit are fixed and fixed costs per unit are variable over the relevant range of activity 4 Current liabilities subtracted from current assets is Working capital 5 Industry standards for the analysis of financial statements are set by the financial performance and condition of company\'s industry 6 Factory overhead costs does not include Direct materials