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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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BuyFindarrow_forward

Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094
Textbook Problem

What three Categories of manufacturing costs are included in the cost of finished goods and the cost of work in process?

To determine

Manufacturing costs:

Manufacturing costs are the costs which are involved in converting the raw materials into the finished products.

To identify: The three categories of manufacturing costs that are included in the cost of finished goods, and the cost of work in process.

Explanation

                                                                            

Explanation:

The three categories of manufacturing costs that are included in the cost of finished goods, and the cost of work in process are as follows:

  • Direct material cost
  • Direct labor cost
  • Factory overhead cost

The three categories of manufacturing costs are as follows:

Direct Material cost:

Direct material cost is the cost of the material which is directly involved in the production...

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