Chapter 2 Flashcards by Kristen Borse

Q

Direct materials used

A

Beginning RM+ purchases- ending

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Q

Cost of goods manufactured

A

Begining W/P+ DM used+ DL+ MOH- ending

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Q

Cost of goods sold

A

Beg F/G+ cost of goods manufactured= cgas- ending

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Q

Operating income

A

Sales- COGS= gross margin- operating expenses

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Q

Product cost

A

Raw materials, direct labor, MOH

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Q

Period cost

A

Selling expenses, general ad expenses

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