Which of the following costs are included in the "for cost accounting purposes" classification?
A) Variable cost and fixed cost.
B) Direct cost and indirect cost.
C) Product cost and period cost.
D)Committed cost and discretionary cost.

Question

Quizplus · Accepted Answer

Product cost and period cost are classifications used in cost accounting to determine the cost of goods sold and the expenses incurred during a particular period. The other options (A, B, and D) are classifications that may be used for other purposes in cost accounting, but are not specifically related to determining the cost of goods sold or expenses for a period.

Which of the Following Costs Are Included in the "For