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Preparing the Manufacturing account

2/23/2018

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Objectives: At the end of this tutorial students should be able to do the following:
  1. Distinguish between Direct Costs and Indirect Costs.
  2. Recognize cost behavioral patterns and depict these patterns on a simple graph.
  3. Calculate the Cost of Raw Materials Used in production.
  4. Compute Prime Costs.
  5. Identify factory overheads.
  6. Compute Cost of Production.
  7. Calculate the Cost of Completed Goods.

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    Author

    The author holds a Bsc (Hons) Degree in Applied Accounting from Oxford Brookes University, England and enjoys a successful career as an Accounting Supervisor and a private tutor.

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