Question

A schedule of cost of goods manufactured has the following main sections:

a.indirect materials
b.direct labor
c.indirect labor
d.underhead
e.overhead cost of goods
f.manufactured cost of goods
g.sold direct materials

Answer 1

A schedule of cost of goods manufactured has several main sections, including indirect materials, direct labor, indirect labor, overhead cost, cost of goods manufactured, and cost of goods sold.

Step-by-step explanation:

The main sections of a schedule of cost of goods manufactured are:

1. Indirect materials: These are the materials that cannot be easily or directly traced to a specific product. They are needed for the production process but are not the main components of the product.
2. Direct labor: This represents the wages and salaries of employees directly involved in the production of goods. It is the cost of the labor required to convert raw materials into finished products.
3. Indirect labor: This refers to the wages and salaries of employees who support the production process but are not directly involved in the physical production.
4. Overhead cost: This includes all other costs associated with production that cannot be specifically assigned to materials or labor, such as rent, utilities, and depreciation.
5. Cost of goods manufactured: This is the total cost incurred to produce the goods, including all the materials used, direct labor costs, and overhead costs.
6. Cost of goods sold: This refers to the cost of the goods that have been sold during a specific period.