Period cost and product cost are synonymous terms.

Name: Period cost and product cost are synonymous terms.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

Period cost and product cost are not synonymous terms. Product cost refers to the cost of producing or manufacturing a product, including direct materials, direct labor, and manufacturing overhead. Period cost refers to non-manufacturing costs, such as selling, general, and administrative expenses, that are not directly related to production.

Period Cost and Product Cost Are Synonymous Terms