Costs related to the production of the product and therefore are included in the cost of the product.
What is PRODUCT COST
100
The next major holiday to be celebrated.
What is Halloween.
100
COGS
What is COST OF GOODS SOLD.
100
Wages of production workers.
What is WIP
100
Salary of the line supervisor.
What is WIP.
200
Costs that are expensed during the period in which they are incurred since they are related to activities of the period and are unrelated to the manufacturing activity. Ex- Administrative Costs.
What is Period Cost.
200
The most recent Sandra Bullock and George Clooney movie.
What is Gravity.
200
COGAFS
What is COST OF GOODS AVAILABLE FOR SALE
200
Rent for the office space.
What is Rent Expense.
200
Rent for the production area.
What is WIP.
300
The process of attaching all manufacturing costs (raw materials used, direct labour, factory overhead) to the goods being produced.
What is Absorption costing.
300
The current blackberry stock price.
What is $8.25
300
WIP
What is WORK IN PROGRESS
300
Depreciation on a patent.
What is WIP
300
Depreciation on office equipment.
What is Depreciation Expense.
400
Used to determine the amount of factory overhead to be applied to the cost of the partially completed goods.