Question

define manufacturing cost? define direct materials? define direct labour? define manufacturing overhead? required : Write very...

define manufacturing cost?
define direct materials?
define direct labour?
define manufacturing overhead?

required : Write very briefly

Business   Accounting   
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Answer #1

Solution:

Manufacturing cost:

Manufacturing cost is total of all cost of resources used in manufacturing. Manufacturing cost is generally classified in to three categories - Direct material, direct labor and manufacturing overhead.

Direct material:

Direct material are those material that are consumed during manufacturing process and directly identified with the product.

Direct labor:

Labor directly involved in manufacturing process and identfiable with relevent product manufactured are called direct labor.

Manufacturing overhead:

Manufacturing overhead are a indirect cost related to manufacturing. All manufacturing cost other than direct material and direct labor are classified into manufacturing overhead. Example of manufacturing overhead are indirect material, indirect labor, fuel cost, factory utilities, factory rent, factory porperty taxes etc.

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