This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Cost of any material that is an integral part of the finished product Finished Good Inventory: The inventory consists of completed (or finished) products that have not been sold Indirect Costs: Cannot be identified with or traced to a cost object Managerial Accounting: Information is designed to meet the specific needs of a company’s management Period Cost: Consist of selling and administrative expenses Product Costs: Consist of manufacturing costs: direct materials, direct labor, and factory overhead Work in Process Inventory: The inventory consist of the direct materials, direct labor, and factory overhead costs for products that have entered the manufacturing process...
View Full Document
This note was uploaded on 10/05/2010 for the course ACCOUNTING n/a taught by Professor N/a during the Summer '09 term at Kaplan University.
- Summer '09