Answer the Following Variable Costing Questions

question 60

Essay

Answer the following variable costing questions:
$$\begin{array} { | l | l | } \hline \text { Question } & \text { Variable Costing } \\\hline \text { Which costs are included as } & \\\text { product costs? } & \\\hline \text { Which costs are included as } & \\\text { period costs? } & \\\hline\end{array}$$

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Definitions:

Need to Belong

An inherent human need to form and maintain strong, stable interpersonal relationships.

Familiarity Principle

The psychological phenomenon where people tend to develop a preference for things merely because they are familiar with them.

Delay Gratification

The strength to forego an immediate payoff for the sake of a more substantial reward at a later time.

Achievement Motivation

The drive to excel, achieve in relation to a set of standards, or pursue success in tasks.