ACC 206 Week 4 Discussion 1 | Assignment Help | Ashford University
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- 20 Jan 2020
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ACC 206 Week 4 Discussion 1 | Assignment Help | Ashford University
Week 4 - Discussion 1
Manufacturing Accounting
Prior to beginning work on this discussion,
read Chapter 18 in the textbook. In addition, the MyLab materials listed in the
Recommended Resources section this week may provide more in-depth information
for this discussion (optional).
Write: Make sure your response addressing the prompt
is more than 200 words and that you include an in-text citation or a brief
quote from the reading material where appropriate.
Unlike service companies, manufacturing
companies have three inventory accounts: raw materials, work-in-process, and
finished goods. Manufacturing costs can be classified into three categories:
direct material, labor, and overhead. Another method to classify costs is as
product and period costs. Product costs, like raw material, can be traced
directly to the product. Period costs are non-manufacturing costs, such as
administrative and insurance costs.
For this discussion, do the following:
·
Explain manufacturing
costs, prime and conversion costs, and product and period costs.
·
Explain the steps to
calculate cost of goods manufactured and cost of goods sold.
·
Develop an example of
a schedule of cost of goods manufactured and a manufacturing income statement.
Guided Response: Respond to at least two of your classmates by
commenting on their posts. Though two replies are the basic expectation for
class discussions, for deeper engagement and learning you are encouraged to
provide responses to any comments or questions others have given to you.
Continuing to engage with peers and the instructor will further the
conversation and provide you with opportunities to demonstrate your content
expertise, critical thinking, and real-world experiences with the discussion
topics.
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