Unformatted text preview: DM used, DL, and M O/H. • At the end of the period, there may be three types of inventory remaining: DM, W/P, F/G • COGS is matched up with Sales for a period and presented on the Income Statement. It is the COG Manufactured that period +/- the change in F/G inventory levels. • COG Manufactured during that period is the sum of manufacturing costs (DM used, DL, M O/H) +/- the change in Work in Process inventory. • The DM Used during the period is DM purchased +/- the change in DM inventory. • Costs that are more closed connected to a period of time, rather than the product, (such as general and administrative and selling expenses) are expensed in the period in which they are incurred....
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This note was uploaded on 03/30/2009 for the course ACCT 202 taught by Professor Sollenberger during the Spring '08 term at Michigan State University.
- Spring '08