GEL-1.02:Demonstrate college-level communication through the composition of original materials in Standard English.
Companies accumulate costs based on the distinction between costs for their product or service and other operating costs. This assignment will help you to further understand of the classifications of costs and types of costs assigned to a product or service. This concept is important because net income must be properly measured and inventory must be properly reported on the balance sheet.
Based on the Chapter 2 Reading, discuss the following cost accounting concepts: Distinguish between product costs and period costs and describe how using these cost concepts contribute to the cost accounting framework.
You will describe costs which are included in inventory (product costs) and describes costs classified as period costs. Examples of each cost type are included. You will explain where product costs and period costs are found in the income statement.
â—Informative Paper must address all of the assignment requirements include at least three sentences for each of the Assignment Requirements noted below.
â—A separate page at the end of your research paper should contain a list of references, in APA style formatting and citation style.
â—Paper must include citations in text and references relating to Chapter2 Reading.
â—This Assignment should be in a 2â€“3 page Word document, in addition to the title and reference pages.
â—It must be written in Standard American English and demonstrate exceptional content, organization, style, and grammar and mechanics.
â—Respond to the questions in a thorough manner, providing specific examples where asked.
â—Your paper should provide a clearly established and sustained viewpoint and purpose.
â—Your writing should be well ordered, logical, and unified, as well as original and insightful.
â—Be sure to cite were appropriate and reference all sources. For help with APA format and citation style and how to write a persuasive essay, consult the Writing Resources in the Academic Success Center.
â—Review the grading Rubric to ensure all points have been captured in the paper.