Classifications of Costs and Introduction to Manufacturing Costing The topic of the different types of costs (especially fixed and variable) is one that will continue through some of the other topics in this Section and Exam. You need to be comfortable with the way the different costs behave as well as terms such as product cost, period cost, prime cost and conversion cost, and what is included in each of these. There will be word questions about these costs, what they are made up of and how they behave. If you have this knowledge, you will be able to answer these questions easily and quickly. Introduction to Manufacturing Costing comprises several introductory topics: Introduction to Cost Accumulation Systems, The Flow of Manufacturing Costs, Costing Systems, and Accounting for Direct Manufacturing Inputs in Standard Costing. This introduction serves as a basis for the detailed coverage that will follow.
Posted on: Fri, 16 Aug 2013 05:27:13 +0000
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