MA Cost Concepts (Lecture 1)

Question 1

Cost of Direct Materials used =

Answer 1

Beg Dm + DM Purchased - End DM

Question 2

Manufacturing costs incurred during period =

Answer 2

Cost of DM used + DL + Applied OH

Question 3

Cost of goods manufactured (COGM) =

Answer 3

BWIP + Manufacturing costs – EWIP

Question 4

Cost of goods sold (COGS) =

Answer 4

BFG + COGM - EFG