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ACC 202
| Question | Answer |
|---|---|
| direct materials | raw materials whose cost can be easily traced to finished products |
| direct labor | labor costs easily traceable to finished products |
| manufacturing overhead other names: indirect manufacturing cost, factory overhead, factory burden | includes all manufacturing costs except direct materials and direct labor |
| selling cost | all costs incurred to secure customer orders and get the finished product to the customer |
| administrative cost | includes all costs associated with the general management of an organization rather than with manufacturing or selling |
| period cost | includes all the costs that are not product costs. all selling and administrative expenses are treated as period costs. EX: sales commissions, advertising, executive salaries, PR, rental costs |
| product cost | include all costs involved in acquiring or making a product EX: direct materials, direct labor, manufacturing overhead |
Created by:
bluepenguin10