[ParrotBird48516]

I have read and re-read the definitions of fixed costs classification but am getting mixed up in terms of those classified according to time frame.

I need to clarify what fixed costs using a time frame perspective are also known as. My options are 1) product costs and period costs 2) committed costs and discretionary costs 3) constant and inconsistent costs or 4)direct costs and indirect costs. I have put my research/findings and if I think it is the answer or not after each possible answer below.

1) product costs - all costs invovled in acquiring or making a product, period costs - costs that are not product costs - DON'T KNOW!
2) committed costs are fixed costs (eg; rent) but discretionary costs are variable such as raw materials - NO
3) constant cost - cost of producing a good/unit is the same for all units, inconsistent cost - can't find proper accounting definition of this term - NO
4) direct costs are variable / indirect can be fixed and variable - NO

It seems like I have said no to every option! Please help!

Parrot

[ParrotBird48516]

I have read and re-read the definitions of fixed costs classification but am getting mixed up in terms of those classified according to time frame.

I need to clarify what fixed costs using a time frame perspective are also known as. My options are 1) product costs and period costs 2) committed costs and discretionary costs 3) constant and inconsistent costs or 4)direct costs and indirect costs. I have put my research/findings and if I think it is the answer or not after each possible answer below.

1) product costs - all costs invovled in acquiring or making a product, period costs - costs that are not product costs - DON'T KNOW!
2) committed costs are fixed costs (eg; rent) but discretionary costs are variable such as raw materials - NO
3) constant cost - cost of producing a good/unit is the same for all units, inconsistent cost - can't find proper accounting definition of this term - NO
4) direct costs are variable / indirect can be fixed and variable - NO

It seems like I have said no to every option! Please help!

Parrot

Had a rest from reading and re-reading these definitions and believe I understand where they all now fit in. It took three textbooks and many websites to do it, but am now okay. Am now writing my answer. Thank you, but don't need an answer.

Parrot