Thank you very much for spotting that mistake. I have inserted at this timestamp a card, and updated the subtitles, to point viewers at the correction.
@@fedoraazalia Hi! I would be inclined to say this is a period cost, as you could consider it part of the selling expenses, which in turn is part of SG&A (selling, general and administrative expenses). But I am not completely sure.
Happy to help! Understanding product cost vs period cost is key in inventory valuation, cost of goods sold, and gross margin. Once you get it, a lot of other things become simple....
Hi! I would be inclined to say this is a period cost, as you could consider it part of the selling expenses, which in turn is part of SG&A (selling, general and administrative expenses). But I am not completely sure.
Yes, they can be considered product cost, as long as you keep the definition of "indirect" fairly tight, in other words have a strong link with the production location.
Thank you! At one point around the 3:20 mark, you mistakenly said period costs instead of product costs are sometimes called inventoriable costs
Thank you very much for spotting that mistake. I have inserted at this timestamp a card, and updated the subtitles, to point viewers at the correction.
@@TheFinanceStoryteller is salaries of personnel who work in the finished
goods warehouse part of manufacturing overhead?
@@fedoraazalia Hi! I would be inclined to say this is a period cost, as you could consider it part of the selling expenses, which in turn is part of SG&A (selling, general and administrative expenses). But I am not completely sure.
Thank you for this very comprehensive explanation!
Glad it was helpful, Shannen! 🙂
doesnt stick to the product.you explained very well love this video
Thank you, Muhammad! Nice to hear that.
thanks
Thank you accounting Khabib
You're welcome!
What about assembly cost? Is direct or indirect?
Product cost.
@@TheFinanceStoryteller so assembly cost is indirect?
Sounds like direct labor to put the product together, right?
Thank you! Very helpful!
You're welcome!
Thank you soooo much!
Happy to help!
Saved me😭 thank you so much ❤
You're welcome, Briteny! :-)
you helped me with my homework! thank you :)
Happy to help! Understanding product cost vs period cost is key in inventory valuation, cost of goods sold, and gross margin. Once you get it, a lot of other things become simple....
Genius !!
Thank you!
Sir, what about salaries of personnel who work in the finished goods warehouse? Is a period cost or product cost?
Hi! I would be inclined to say this is a period cost, as you could consider it part of the selling expenses, which in turn is part of SG&A (selling, general and administrative expenses). But I am not completely sure.
@@TheFinanceStoryteller thank you so much Sir!
3:15, you said period cost is sometimes called inventoriable cost, while textbook said product cost is inventoriable cost.
You are absolutely correct! I put a note in the subtitles as well as the comments to highlight the mistake. My apologies!
what about salary's labour in factory ? its product or periode ?
Product cost.
Where does indirect labor and indirect materials can be considered, can it both?
Yes, they can be considered product cost, as long as you keep the definition of "indirect" fairly tight, in other words have a strong link with the production location.
Danjewel! :)
Graag gedaan! Veel plezier met de video's! :-)
loved this thank u my nigga
Tux