Product cost is also called inventoriable cost because the two terms mean the same thing. These terms mean the cost of manufacturing or buying the product, plus whatever the cost of getting the product ready and in place for sale.
revenue
cost incurred for manufacturing of good and services. It is also called Factory overheads. Example Factory rent,Factory workers salary,other cost which is incurred in factory to manufacture a Product
Cost accountant determines the per unit cost of product and guides the management of manufacturing firm about the cost of the product and helps them to set the prices of product according to cost of product rather arbitrary pricing also helps the managment to achieve their target profit effeciently and also guides the governament about the pricing of products so that governaments can maintain prices of products which is in most benifit of the people as a whole.
service - none merchandising - freight costs, closing inventory manufacturing - direct material, direct labor, freight cost, manufacturing overhead
product cost
1. An example of an inventoriable cost would be: a) Shipping fees b) Advertising flyers c) Sales commissions d) Direct materials
revenue
This is called cost price. Companies buy stock at cost price then add their profit and sell at retail price.
cost incurred for manufacturing of good and services. It is also called Factory overheads. Example Factory rent,Factory workers salary,other cost which is incurred in factory to manufacture a Product
service - none merchandising - freight costs, closing inventory manufacturing - direct material, direct labor, freight cost, manufacturing overhead
Cost accountant determines the per unit cost of product and guides the management of manufacturing firm about the cost of the product and helps them to set the prices of product according to cost of product rather arbitrary pricing also helps the managment to achieve their target profit effeciently and also guides the governament about the pricing of products so that governaments can maintain prices of products which is in most benifit of the people as a whole.
product cost
Product cost
Cost to purchase basic raw material for the manufacturing of product is called the raw material cost like in cost of wood in furniture etc.
Nominal cost is the money cost of production.It is also called expenses of production.These expenses are important from the vier of the producer.He must make sure that the price of the product,in the long run, covers these expenses including normal profit,otherwise he cannot afford to carry on the business Nominal cost is the money cost of production.It is also called expenses of production.These expenses are important from the vier of the producer.He must make sure that the price of the product,in the long run, covers these expenses including normal profit,otherwise he cannot afford to carry on the business
There are two type of costing are involved in a product or service. ie Direct cost and Indirect cost. In this two head there are two sub type costing are involved. ie Varriable cost and Fixed cost. Here the the total varriable cost are involved in a product of cost is called marginal costing. In another way the totoal cost -fixed cost is called marginal costing By M.Magesh 099948 33079
Should typically be a product cost.