ADM 2304 Lecture Notes - Lecture 2: Online Advertising, European Cooperation In Science And Technology, Deferral

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> those labour costs that can be easily traced to individual units of product e. g, (wage paid to car assembly workers), (ceo salary wouldn"t count here since he doesn"t assemble the car) > direct materials and direct labour are called prime costs: manufacturing overhead (manu overhead and direct labour are called conversion costs) > manufacturing costs that cannot be easily traced directly to speci c units produced. > aka: indirect manufacturing cost, factory overhead, and factory burden i. > usually considered to be part of manufacturing overhead. > product speci c overtime premiums are part of direct labour. Non-manufacturing costs: marketing or selling costs = costs necessary to get the order and deliver the product, administrative costs = all executive, organizational, and clerical costs non. > product costs include direct materials, direct labour, and manufacturing overhead ( rst in balance sheet, and then income statement) C. direct materials costs: electrical costs to light the production facility, sales commissions.

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