Product Costs, business and finance homework help

Anonymous
timer Asked: May 17th, 2016
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Question Description

In Chapter 3, you were introduced to three types of costs associated with a manufactured product – direct materials, direct labor, and manufacturing overhead.  Explain how these costs are associated with the manufactured product.  Why are some of these costs allocated to the product through costing methods such as job order costing or process costing? As part of your response, please read the article First Solar preview: Manufacturing costs, project order book in the spotlight and provide a specific example of this company’s manufacturing costs. Your initial post should be 200-250 words. Respond to at least two of your classmates’ posts.

Guided Response:

Review several of your classmates’ postings.  Respond to at least two of your classmates by explaining why you agree or disagree with their explanations.  Provide examples to clarify and support your point of view

Carefully review the Discussion Forum Grading Rubrics for the criteria that will be used to evaluate this Discussion Thread.

Tutor Answer

henryprofessor
School: New York University

Running head: PRODUCT COSTS

1

Product Costs
Name
Institution

PRODUCT COSTS

2
Product Costs

Businesses use its capital to either fund operational expenses or manufacturing cost of its
products for the market. The cost incurred in the final production of the product are divided into
direct materials, direct labor and manufacturing overhead. Direct materials cost refers to related
costs of raw materials used to create the product. Raw materials include all items used in
producing the original product. Specifically, direct materials are integral compo...

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Anonymous
Excellent job

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