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How do you distinguish between product and period costs? Please describe the three major components of product costs: direct materials,...

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Accounting

Howdo you distinguish between product and periodcosts?

Pleasedescribe the three major components of product costs: directmaterials, direct labor, and manufacturingoverhead.

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Product costs are those costs that are required to be incurred to manufacture a product and can be directly assigned to the product For example cost of materials required to manufacture a product cost of labor required to manufacture a product and the other manufacturing costs that are required to be incurred to carry on the manufacturing process smoothly Whereas period costs are costs that are    See Answer
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