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What product costs and period costs go into McDonald’s French fries?
McDonald’s recently released a video featuring Grant Imahara, a former host from “Mythbusters,” about how its French fries are made. Some people have said that its French fries are mashed-up potatoes (or other ingredients) pressed into French fry shapes. To see how the French fries are actually made, see the video at http://time.com/3675518/how-mcdonalds-makes-french-fries/ (5:06 minutes.)
What is the distinction between product costs and period costs?
Why is it important to sort costs into product costs and period costs?
What are some product costs related to McDonald’s French fries?
What are some period costs related to the manufacture and sale of McDonald’s French fries?