What are the 3 inventory accounts that Manufacturers have?

Question

What are the 3 inventory accounts that Manufacturers have? What is an Overhead? How do we determine the variable componen of mixed costs?

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ACIS Midterm Study Guide   Period cost: outside the factory Product cost: inside the factory   Traditional income statement format: (GAAP approved)        Sales                 -COGS        =Gross margin or profit                -Selling, admin, advertising expenses         =net operating income  Contribution income statement format:         Sales                -variable costs        =contribution margin                 -fixed costs        =net operating income   COGS= Beginning inventory + purchases - ending inventory   To determine the variable component of mixed costs: (cost at highest level of activity - cost at lowest level of activity) / (highest activity level-lowest activity level)   To determine fixed component of mixed cost: (tot

What are the 3 inventory accounts that Manufacturers have?

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Principles of Accounting ACIS 2116 - Chris Sherman - ACIS 2116

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What are the 3 inventory accounts that Manufacturers have?

What are the 3 inventory accounts that Manufacturers have?

Other study guides from Principles of Accounting ACIS 2116 - Chris Sherman - ACIS 2116

Others also asked

Discussion and review:

Other study guides from
Principles of Accounting ACIS 2116 - Chris Sherman - ACIS 2116