Question

Insurance expense incurred on a factory building would be treated as aInsurance expense incurred on a factory building would be treated as aInsurance expense incurred on a factory building would be treated as aInsurance expense incurred on a factory building would be treated as a

Answer 1

product cost

Step-by-step explanation:

Product costs are simply defined all costs incurred when acquiring or making a product. It is any materials that is a part of the product, it entails also the cost of workers who touch the product to produce it with all the costs of the facility and management that is needed to make the product. There are simply 3 main categories of product costs which are direct materials, direct labor and manufacturing overhead.

Insurance Expense gives proper details about an insurer's profitability by line of business, allocation of other underwriting expenses, allocation of pretax profit by line, on a net basis and allocation of pretax profit by line, on a direct basis.