Both product costs and period costs could appear on the income statement.

Name: Both product costs and period costs could appear on the income statement.
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Question

Quizplus · Accepted Answer

Both product costs (direct materials, direct labor, and manufacturing overhead) and period costs (selling, general, and administrative expenses) are considered expenses and can appear on the income statement. However, they would be presented differently and under different sections of the income statement.

Both Product Costs and Period Costs Could Appear on the Income