Quiz 40: Product and Period Costs Quiz

Product and Period Costs Quiz

Test your knowledge of double entry bookkeeping with our product and period costs quiz. This quiz tests if you know whether a cost is normally classified as a product cost or a period cost.

Product costs are costs which a business incurs in producing a product, they become part of the inventory cost in the balance sheet until the product is sold. Period costs are any costs which are not product costs. If you need a refresher course on this topic take a look at our product and period costs tutorial.

Start the Product and Period Costs Quiz

Click on an answer to reveal whether its Right! or Wrong

1. Is an assembly line supervisor salary a product or period cost?
Wrong
Right!
2. Is a factory janitor cost a product or period cost?
Right!
Wrong

 

3. Is a CEO salary a product or period cost?
Right!
Wrong
4. Is the cost of production department uniforms and protective equipment a product or period cost?
Wrong
Right!
5. Are website costs a product or period cost?
Wrong
Right!
6. Is the cost of raw materials used in production a product or period cost?
Right!
Wrong
7. Is the cost of market research a product or period cost?
Wrong
Right!
8. Is the cost of distribution and freight out to customers a product or period cost?
Right!
Wrong
9. Is the cost of shipping and freight a product or period cost?
Right!
Wrong
10. Is the cost of depreciation on production machinery and buildings a product or period cost?
Right!
Wrong

Try Another Double Entry Bookkeeping Quiz

The product and period costs quiz is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping, discover another at the links below.

Last modified December 14th, 2016 by Michael Brown

About the Author

Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years in all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a BSc from Loughborough University.

You May Also Like