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Chapter 2 Notes.docx - Chapter 2 Notes Mixed Cost Intercept...

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Chapter 2 Notes Mixed Cost - Intercept the Y axis at the number of your fixed costs - Total Cost = (Variable Cost x Quantity) + Fixed Cost Types of Inventory - Raw Material - warehouse - Work in Process – factory floor - Finished Goods - sales floor Types of Businesses - Service – no inventory - Retail – one inventory - Manufacturing – three inventory Cost Flows Vendor Raw Materials Work in Process Finished Goods Customer Beginning Raw Materials Beginning Work In Process Inventory + Net Purchases + Direct Materials Used = Available for Production
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