Chapter 14 Flashcards
1
Q
Cost of Good Sold
A
Beginning Finished Goods Inventory + Cost of Good Manufactured - Ending Finished Goods Inventory
2
Q
Total Manufacturing Costs
A
Direct Materials Costs + Direct Labor Costs + Manufacturing Overhead
3
Q
Total Cost of Work in Process
A
Beginning Work in Process + Total Manufacturing Costs
4
Q
Cost of Goods Manufactured
A
Total Cost of Work in Process - Ending Work in Process Inventory
5
Q
Gross Profit
A
Sales revenue - Cost of Goods Sold
