: Product cost equal 1- Prime cost + conversion cost 2- Direct material + direct labor + factory overhead applied 3

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Date Posted: 2014/10/06

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by Ayman Ezzedine , CPA|Financial Consultant/analyst|Senior Audit Manager , Self Employed

To note that including the conversion cost is a huge mistake. We convert at closing dates only the monetary elements (inventories are non monetary)

by VIJAYA BHASKAR CHALUVADI , CHIEF FINANCIAL OFFICER , Tera Software Limited

PRIME COST PLUS CONVERSION COST

Which of the following is a period cost rather than a product cost of a manufacturer?
Top Answer: <p>I think answer is C - ie fixed cost is a period cost for manufacturer. Because it does not have ... See More

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What they most likely Cost to be a period cost rather than a product cost of a manufacturer ?
Top Answer: The correct answer is Abnormal spoilage Under Absorption costing fixed overheads are considered as a pa ... See More

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Tracking of direct material based on the BOM allows the organization to: Select one:
Top Answer: A BOM explains what to buy, how to buy and where to buy, and includes instructions for how to assemble th ... See More

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Direct Materials are: Select one:
Top Answer: Answer will be option a) Materials outlined in the BOM and can be directly costed to the end product ... See More

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: Product cost equal 1- Prime cost + conversion cost 2- Direct material + direct labor + factory overhead applied 3 - Non of above .