ACC-1B Lecture Notes - Lecture 12: European Cooperation In Science And Technology, Finished Good, Cost Driver
Document Summary
Total manufacturing cost = direct materials + direct labor + oh applied. Cost of goods manufactured = total cost of a job is transferred from finished goods inventory when a job is sold, it will then be matched up against revenues on the income statement to produce the net revenue figure. Reverse to cost of goods sold: actual cgs income statement. Assign indirect costs to products or services using a single volume-based cost driver. Classify activities such as unit-, batch-, product-, or facility-level activities. Assign indirect costs to activity cost pools and select a cost driver for each pool. Assign indirect costs to products or services using activity rates. Assign indirect costs to products or services using activity proportions. Compare the results of a volume-based cost system to activity-based costing. Apply activity-based costing to a service industry. Describe how managers use activity-based management and other cost management methods.
