six accounting questions that need help on. someone please help? ATTACHMENT PREVIEW Download attachment accounting essay questions.doc Essay Questions: 1) Product cost vs. period cost Briefly define the terms product cost and period cost. Explain why the distinction between these two types of costs is important. 2) Overhead application For a single product manufacturing company, all overhead must be assigned to the one product. Since this is the case, why would such a firm not simply assign actual overhead cost to production as it is incurred throughout the year? 3) Job order and process costing systems There are two distinct types of cost accounting systems: job order costing systems and process costing systems. How does management decide whether to use a job order costing system or a process costing system in any given manufacturing situation? Explain briefly. 4) Value-added and non-value-added activities Explain the distinction between value-added and non-value added activities. Provide an example of each. 5) Cost-volume-profit graph Describe the important relationships shown on a cost-volume-profit graph. 6) Pricing special orders Explain why an American corporation might sell a product in Eastern Europe at a price significantly below that for which it sells the same product in the United States.