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5 Cards in this Set
- Front
- Back
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Direct materials used |
Beg inv+purchases-ending inv=direct mat used |
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Total manufacturing costs incureed |
direct materials used+direct manufacturing labor+manufacturing overhead costs=total man cost incureed |
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Cost of goods manufactured
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beg work-in-process+total manufacturing costs incurred=total manufacturing costs to account for -ending work in process=cost of goods manufactured |
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Costs of goods sold (manufacturing) |
beg inventory of finished goods+cost of goods manufactured-ending inventory=cost of goods sold |
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Unit cost Formula |
cost/units produced its important to subtract out the fixed overhead percentage when figuring cost |
