Compute cost of goods manufactured. using a formal schedule of cost of good manufactured  then compute cost of goods sold    That is all of the picture there isn't more to it.

The equation for total costs (Y) is: Y = a+ bX In this equation, “a” represents:  Net income Cost of goods sold Total fixed costs The level of activity (e.g., the number of units produced) Total variable costs Variable cost per unit of X Total revenue

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Give the general formula for a mixed cost.  What does each term represent?  Provide an example of a product or service with a mixed cost.

3.Activity based costing (ABC) is a method of allocating the indirect costs of sales commissions to products. A. true b. false

To make predictions about costs and income, you must first classify costs by their behavior.     True   False

Define the terms Cost Costing Cost Accounting Cost Accountancy Management Accounting Financial Accounting   Product vs Period Cost Manufacturing vs Non-Manufacturing Direct vs Indirect Cost Opportunity cost Sunk cost Differential cost Prime cost Conversion Cost

In Make or buy decision ,relevant costs are :  Select one: a. manufacturing costs that will not be saved  + the purchase price  b. manufacturing costs that will not be saved  c. manufacturing costs that will be saved  d. the purchase price of the units  e. manufacturing costs that will be saved  + the purchase price

What is the key difference between Absorption Costing and Marginal Costing?   A Absorption Costing treats Manufacturing Overhead as a period cost.   B Marginal Costing treats Fixed Manufacturing Overhead as a period cost.   C Absorption Costing only considers variable costs to calculate net income.   D Marginal Costing only considers variable costs to calculate net income.