Elements of manufacturing costs, Cost Accounting

Elements of Manufacturing costs

Manufacturing costs are the costs incurred to create a product. Keep in mind for a product that refers to both services and goods.

The elements of manufacturing costs are as:

1. Labour costs; and

2. Overhead costs.

3. Material costs,

These elements make up the net cost of a product, like shown underneath:

Total product cost = Material cost + Labour Cost + overhead cost

 

Posted Date: 2/5/2013 2:51:00 AM | Location : United States







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