0
bla bla bla bla
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Definition cogs account?
Dear All, COGS Defination: Cost of goods sold, COGS, or "cost of sales", includes the direct costs attributable to the production of the goods sold by a company. This amount includes the materials cost used in creating the goods along with the direct labor costs used to produce the good. It excludes indirect expenses such as distribution costs and sales force costs. COGS appears on the income statement and can be deducted from revenue to calculate a company's gross margin. COGS is the costs that go into creating the products that a company sells; therefore, the only costs included in the measure are those that are directly tied to the production of the products. For example, the COGS for an automaker would include the material costs for the parts that go into making the car along with the labor costs used to put the car together. The cost of sending the cars to dealerships and the cost of the labor used to sell the car would be excluded. Thanks & Regards, Sarfaraz Shaikh.
Are sales commissions a direct or indirect expense?
Sales commissions are direct expenses. Direct expenses are those that used to directly run a business like labor, materials products services and more. Indirect expenses are the costs of doing business and include things like rent, insurance, depreciation and more.
What is direct labor budget used for?
Direct labor budget is used for controlling purpose as it tells that how much direct labor is required for specific job to be complete.
What is the difference between cost of sales and sales?
Sales is the revenue of company while cost of sales is the cost of goods which are used to manufacture the units of products for sales purpose
Is there sales tax on labor in NC?
Yes and no. According to the NC Department of Revenue Sales and Use Tax Technical Bulletin 41 dated 07/01/2007, "Sales to users or consumers of tangible personal property, including articles fabricated by the vendor, which the vendor contracts to install are subject to the sales or use tax and persons making such sales must register with the Department and collect and remit all tax due. If the vendor makes a charge for installing articles of tangible personal property which he sells, the charge for installation will not be subject to tax provided it is in addition to the sales price of the property and is stated separately on the customer's invoice and in the vendor's records. If the installation charge is not separately stated, the entire amount will be taxable." The cited history of this law is "Authority G.S. 105-164.4; 105-164.6; 105-264; Issued: June 1, 1996." In construction, labor is generally part of what is termed a "performance contract." As such, it is also taxable, provided it is not listed separately. See Technical Bulletin 31. Labor on auto repair is also taxable unless it is listed separately. See Technical Bulletin 35. You may see a trend here. Generally speaking, all tangible personal property and labor to install or repair that property is taxable. Only if the business lists the labor as a separate item is the labor not taxable, and there are a number of exceptions to this. You have to check the appropriate Technical Bulletin to determine the exact situation.
Are you required to pay sales tax on labor in Florida?
I can not speak for all professions but as a business owner I do know about the automotive industry. If any part is used in a repair then you do pay tax on the total bill. If you had your door hinges lubricated then you pay tax as there was a lubricant used and it stays on the car. If you had your Cooling system tested and no parts or fluids were used then you do Not pay tax on the labor. Also there is no tax on wrecker service. Repair Labor Only Charges for repairs of tangible personal property needing only labor or service are not taxable. The dealer must keep documentation to prove no tangible personal property was joined with, or attached to the repaired item. The sales tax and surtax apply when parts are used in the repair even if the parts are provided at no charge
In Iowa do you have to pay sales tax when purchasing a used car from a private seller in Illinois?
yes you will pay sales tax when you transfer the title at your county's admin. building.
What is SPLH principles?
SPLH - Sales per Labor Hour - is used to measure productivity. i.e. how many sales dollars are generated for each hour an employee is clocked in.
Relevance of total quality management in the production process?
It is very important in a production process that good quality management is used. Turning out parts that cannot be sold due to defect costs the business money in sales along with cost of materials and labor. Parts that get to a buyer that are defective will also be detrimental to the business.
Where can one find used snowmobile parts?
Used snowmobile parts may be available on online sites such as eBay and Craigslist. Alternatively, one may find used parts at a retailer that specializes in snowmobile sales or repairs.
Can you change an auto transmission to manual and about how much does it usually cost?
yes. it cost about 3,000 for parts and labor Or you can find used parts and do the labor yourself. My total has come up to about 1,800 doing it that way.
What does BoQ mean?
In the business world, BoQ means "bill of quantities." A bill of quantities is a document used in tendering in the construction industry in which materials, parts, labor, and labor costs are itemized.
Where can I find used snow blower parts in New York?
You can find used snow blower parts in your local classifieds. You can also check Craigslist and local estate sales. Snowblower parts can be purchased from any major dealer that sells snowblowers in NY. You can also find parts for your blower on sites like eBay.
Where can one purchase a Komatsu forklift in Iowa?
One can purchase a Komatsu forklift in Iowa from the following places: Herculilft Iowa, Komatsu Forklist Used, Equipment Trade Online, Used Forklift Genie, eBay.
Is there a sales tax on a used car in Oklahoma?
What is the sales tax on used cars in Oklahoma
How much to fix blown engine rod 1999 Kia Sportage?
A re-manufactured engine for that Kia goes for aprox $2750 plus tax. Misc parts like oils & filters, hoses, belts, antifreeze, motor mounts, tune up stuff and such, plus labor, aprox another $1000 to $1400. Aprox total cost, parts and labor $4200. The manufacturer that supplies the engine will expect a rebuild-able core from you. If the bad engine is "blown up" you will have to pay a core charge which could be rather stiff. You have another option. A good used engine from a trustworthy salvage yard would probably cost you $1000 plus tax. The good used engine, plus parts and labor may cost you $2400 total.
What is the purpose of drugs used in labor?
These drugs are used to induce (start) or continue labor.
