Situation: better living through powerpoint, llc is a consulting firm that works with clients to improve internal reporting practices. the firm uses a job-order costing system that allocates overhead on the basis of consultant labor dollars. a client contract is best categorized as which of the following?
expenditure
period cost
product cost
cost object
indirect cost

Rosie and her brother michael decided recently to purchase an rv together. they both want to use the rv to take their families camping. the price of the rv was $10,000. since michael expects to use the rv 60% of the time and rosie 40% of the time, michael contributed $6,000 and rosie contributed $4,000. their ownership percentage equals their contribution percentage. which type of property titling should they use to reflect their ownership interest?