Cost Terms and Concepts in Cost & Management Accounting Part 2, Manufacturing Costs, Mike Werner
Cost Terms and Concepts in Cost & Management Accounting Part 2
Product Cost Terms and Concepts for a Manufacturer
An understanding of cost terms and concepts and how costs are classified is necessary to understand or prepare management accounting schedules, reports and information.
This video is Part 2 of 2. It introduces manufacturing product costs, direct material, direct labor, various aspects of manufacturing overhead, cost drivers, raw material inventory, work-in-process inventory, finished goods inventory, the cost of goods manufactured schedule, the cost of goods sold schedule and the income statement.
The first video, Part 1 introduces various costs and cost classifications including direct (traceable) cost, indirect (common) cost, cost behavior, fixed cost, variable cost, product cost, period cost, merchandise inventory, selling expense, administrative expense, the cost of goods sold schedule, and the income statement for merchandisers.
Accounting Step-by-Step By Mike Werner
Пікірлер: 12
This is wonderful courses. Thank you so much.
I like how this part 2 video covers the manufacturing cost classifications and inventories. Easy to follow, informative. Thank you.
@accountingstepbystep2229
3 жыл бұрын
Thank you for your kind words and thank you for watching the video.
@MikeWMiami
3 жыл бұрын
@@accountingstepbystep2229 Thanks!
very clear explanation, finally understood the "costs things"
@accountingstepbystep2229
2 жыл бұрын
Dear C, Thank you so much for watching my video and the kind words. I truly appreciate it! I am happy the video was helpful!
Thanks very much for your lecture; it's very clear explanation and easy to follow the costs flow.
@accountingstepbystep2229
7 ай бұрын
Thank you so much for the very nice comment and encouragement. I am very happy the video was helpful. Thank you for viewing my video a very best regards, Mike.
Very well explained
@accountingstepbystep2229
2 жыл бұрын
Dear Naveen, Thank you for the comment and encouraging words! Best regards, Mike
Very well explained. Thanks you sir
@accountingstepbystep2229
Жыл бұрын
Hi Kayiza. Thank you so much for the comment and kind words! I hope the video helpful! Best regards, Mike Werner