The Three Elements of Product Costs Are

question 26

Multiple Choice

The three elements of product costs are

• A)direct materials,work in process,and overhead.
• B)direct materials,work in process,and finished goods.
• C)direct materials,direct labor,and overhead.
• D)direct materials,direct labor,and period costs.

---

Definitions:

Holistically

An approach that considers the whole system, including all of its parts and their interactions, rather than focusing on individual components.

Collectivist Cultures

Societies that emphasize the needs and goals of the group as a whole over the needs and wishes of each individual.

Holistically

An approach or method of considering or treating something as a whole, rather than focusing on individual parts or aspects.

Individualistic Cultures

Cultures that emphasize personal achievements and individual rights, often prioritizing personal goals over group ones.