ACC406 FORMULAS || 100% CORRECT ANSWERS.
beginning materials inventory + materials purchased correct answers income statement eq 1
(materials available for use)
materials available for use - ending materials inventory correct answers income statement eq 2
(materials used)
Direct materials used + direct labour + overhead correct answers income statement eq 3 (total
manufacturing cost added)
Total manufacturing cost added + beginning work in process inventory correct answers income
statement eq 4 (total manufacturing cost in process)
total manufacturing cost in process - ending work in process inventory correct answers income
statement eq 5 (cost of goods manufactured)
Cost of goods manufactured + beginning finished goods inventory correct answers income
statement eq 6 (cost of goods available for sale)
cost of goods available for sale - ending finished goods inventory correct answers income
statement eq 7 (cost of goods sold)
direct materials + direct labour correct answers prime cost
direct labor + manufacturing overhead correct answers conversion cost
fixed cost + variable cost correct answers total cost
beginning materials inventory + materials purchased correct answers income statement eq 1
(materials available for use)
materials available for use - ending materials inventory correct answers income statement eq 2
(materials used)
Direct materials used + direct labour + overhead correct answers income statement eq 3 (total
manufacturing cost added)
Total manufacturing cost added + beginning work in process inventory correct answers income
statement eq 4 (total manufacturing cost in process)
total manufacturing cost in process - ending work in process inventory correct answers income
statement eq 5 (cost of goods manufactured)
Cost of goods manufactured + beginning finished goods inventory correct answers income
statement eq 6 (cost of goods available for sale)
cost of goods available for sale - ending finished goods inventory correct answers income
statement eq 7 (cost of goods sold)
direct materials + direct labour correct answers prime cost
direct labor + manufacturing overhead correct answers conversion cost
fixed cost + variable cost correct answers total cost
