manufacturing companies have three inventory accounts: raw materials, work-in-process, and finished goods. Another method to classify costs is as product and period costs. Product costs, like raw material, can be traced directly to the product. Period costs are non-manufacturing costs, such as administrative and insurance costs. For this discussion, do the following: Explain manufacturing costs, prime and conversion costs, and product and period costs. Explain the steps to calculate cost of goods manufactured and cost of goods sold. Develop an example of a schedule of cost of goods manufactured and a manufacturing income statement.
https://homeworkmarkets.com/wp-content/uploads/2020/08/logo1-300x75.png 0 0 Mike https://homeworkmarkets.com/wp-content/uploads/2020/08/logo1-300x75.png Mike2021-06-01 14:59:482021-06-01 14:59:48method to classify costs is as product and period costs.