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.

2. Distinguish between product costs and period costs. 6. What is the difference between gross margin and manufacturing margin?

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

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.