Product Cost Versus Period Cost: Learning Objectives of this article: Define and explain the terms “product cost” and “period cost”. Give examples of each. What is the difference between product cost and period cost. In addition to the distinction between manufacturing and non-manufacturing costs,
Definition of Product Cost
Definition of Product Cost is In production, research, retail, and accounting, a cost is the value of money that has been used up to the produce something, and hence is not available for use anymore.