16-3 - a. Raw Materials i. Purchase RM 1. Goes to Direct...

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January 16, 2009 Lab Day 1 I. Ways to classify Costs a. Product b. Period II. Product costs a. Direct labor i. DL b. Direct Materials i. DM c. Manufacturing overhead i. MOH ii. Things that affect the making of the product but not easily distinguishable between each individual item 1. Ex: electricity III. Period costs a. Selling b. IV.“T” Charts
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Unformatted text preview: a. Raw Materials i. Purchase RM 1. Goes to Direct Materials b. Works in Progress i. DM, DL, MOH 1. Goes to COGM c. Finished goods i. COGM 1. Goes to COGS d. Income statement i. COGS V. A different way to classify costs a. Direct i. Can see go into the product 1. Only DM & DL b. Indirect i. MOH, SGA...
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16-3 - a. Raw Materials i. Purchase RM 1. Goes to Direct...

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