Which of the following is common for reporting product cost under financial reporting and product cost for reimbursement under government contracts?
A) marketing cost
B) distribution costs
C) customer service
D) research and development costs

Question

Quizplus · Accepted Answer

Both financial reporting and government contracts require the inclusion of direct product costs such as materials, labor, and overhead. Research and development costs are also directly attributable to the production of the product and are included in both cost reporting methods. A, B, and C are indirect costs and are not typically included in product cost reporting.

Which of the Following Is Common for Reporting Product Cost