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Unformatted text preview: a period cost because they are replaced monthly. 7 Nonmanufacturing costs for selling and general/administrative purposes are not part of factory overhead. 8 Manufacturers may have three inventory categories: raw materials, finished goods, and cost of goods sold. 9 The cost of carbon fiber incorporated into the frame of a bicycle built by TecTrack Bikes is a product cost. 10 Prime costs include direct labor and manufacturing overhead....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11