Cost of goods sold

2a. Explain the differences between a period cost and a product cost. • Period cost are the ones which are attached to the revenue over a given period, therefore, is not included as an integral part of inventories, this cost are caused by everything that additionally is made in order to sell the items manufactured. • A product costs incorporated the value of manufactured products, right through the asset accounts. Some costs are more attached to products than time, and keeps attached until the…

Colonies because of the climate. Some of the southern colony farms grew many cash crops that were sold for profit. Some of the cash crops that they grew were tobacco, rice, and indigo. Down sides to growing these cash crops were that they required a lot of work to produce and harvest. Another disadvantage with the sale of these cash crops was that everything that southern colonies grew had to be sold to England and no one else. In order for them to grow these crops, the English sailors had to…

Financial Statement Project - Goodyear Goodyear Tire & Rubber Company follows in accordance with Securities and Exchange Commission 's rules and its Regulations, and contains all the related adjustments important to present its result of operations and cash flows and its financial position in the market. In the year of 2015, the Net Sales went to $16443 million but the Net Income for Goodyear and Shareholders went up to $ 307 million. Majorly into Tire manufacturing, its sales and distribution,…

There was a war fought back in the 1863, because people were being mistreated, sold, beaten and were forced to do what their masters pleased. Back then It was more open in the public, and slavery was an accepted practice back then. Lots of people knew what was going on back then and how they would mistreat Africans, and lots of people…

The purpose of this memo is to summarize a company needs a good decision to make more profit. We use Cost-Volume-Profit analysis to analyze how change in costs and volume affect a company’s operating income and net income. The assignment is about Carlisle Engine Company which manufactures and sells diesel engines for use in small farming equipment. In 2014 budget, selling price is $4,000, variable cost per engine $1,000, annual fixed costs is $4,800,000, net income is 1,200,000, and income tax…

board (F.O.B) shipping point, revenue is recognized when the item is shipped. When it is labeled F.O.B. destination, revenue is then recognized when the customer actually receives the product. If the item is sold on consignment, revenue is recognized at the beginning of the month the goods are sold or after a period of time after the customer receives the product from the consignee. The notes on revenue recognition also talk about how rebates are netted against revenue on an accrual basis only…

fictitious commodities. Real commodities are commodities that are produced for sale in market. Polanyi, considers labour, land and money as fictitious commodities that are not meant to be sold in the market. When land, labour and money were produced for selling in the market. Nature was subdivided into land and sold for profit. When human beings didn’t have any…

I have to sell it at a higher price than Spalding’s “NeverFlat” because it costs me more to make my product. But, I’m selling it at the price of Wilson’s classic Evolution Game Ball because it is definitely the most popular product Wilson sells. EnviroBounce has an advantage though, because the evolution game ball has no significant…

Undeniably, the trade relationship can cause damage to people who used to work in America. However, in my opinion, the trade relationship is beneficial for both countries in the long run. It is both good and bad for people in the United States. Some American workers will be hurt from the US/China trade relationship. For example, American workers are more likely to be fired, just like the female worker who worked in Briggs & Stratton located in Rolla…

The World’s fair of 1964 in Flushing Meadows, New York, the Ford Mustang debuted and had the attention of buyers across America. On its first year alone Ford reportedly sold over 400,000 Mustang’s. This car was clearly a success, it exceeded the expectation of sales from the car. The Mustang got nicknames like the “pony car” and the Ford called it “working man’s Thunderbird”. It was one of the best selling cars during the time…