Final answer:
Period costs are often referred to as operating expenses. These costs are incurred during the normal course of business operations and are not directly related to the production or manufacturing of a product.
Step-by-step explanation:
Period costs are often referred to as operating expenses. These costs are incurred during the normal course of business operations and are not directly related to the production or manufacturing of a product. Examples of period costs include advertising expenses, administrative salaries, and rent for office spaces.