What is the difference between the product cost and period cost? Give some examples for each type.
Accounting Q1. What is the difference between the product cost and period cost? Give some examples for each type [2 marks] Answer: Q 2. What do you mean by Variable and Absorption Costing? Explain both with suitable example. [2 marks] Answer: Q3. In cost accounting, direct costs are easily and economically traced to cost object. […]