Accounting · Cost Accounting
The term 'Period Cost' in cost accounting concepts primarily refers to:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Capital expenditure that must be amortized over a fixed period of ten years.
- 2Costs that vary directly and proportionately with production volume.
- 3Costs that are expensed directly in the Profit and Loss Statement in the period incurred, regardless of the production level.✓
- 4All manufacturing costs including direct labor and direct materials.
Correct answer
Costs that are expensed directly in the Profit and Loss Statement in the period incurred, regardless of the production level.
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