The three elements of product costs are
A)direct materials,work in process,and overhead.
B)direct materials,work in process,and finished goods.
C)direct materials,direct labor,and overhead.
D)direct materials,direct labor,and period costs.

Question

Quizplus · Accepted Answer

Direct materials, direct labor, and overhead are the three elements of product costs. Direct materials are the raw materials that are directly used in the production process, direct labor refers to the wages and salaries of workers who are directly involved in the production process, and overhead includes all indirect costs associated with production such as rent, utilities, and other indirect expenses.

The Three Elements of Product Costs Are