I need answers in 5 sentences. Thankyou.
1.Julie Mills is studying for her accounting mid-term examination. Summarize for Julie what she should know about management functions.
2.A manufacturing company makes the products that it sells. Briefly identify and define the cost elements that are incurred in making a product. After product cost elements are identified, how is the cost of goods manufactured for a period determined?
3.Kevin Scott is confused about the differences between a product cost and a period cost. Explain the differences to Kevin.