1. Chapter 7: Manufacturing Account1 2. TYPES OF INVENTORY  Raw materials  Work in progress  Finished goods/completed goods 3. TYPES OF PRODUCTION COST Production…

Thinking Like an Economist Every field of study has its own terminology Economics Supply Opportunity cost Elasticity Comparative advantage Consumer Surplus Demand Deadweight…

Manufacturing Account This is an account prepared by a firm that manufactures (makes) goods. If a firm manufactures more than one product than they will prepare separate…

1. Measuring a Nation’s IncomeChapter 23 2. Microeconomics Microeconomics is the study of how individual households and firms make decisions and how they interact with…

1. COSTS AND COSTING 66.3 PROFIT AND LOSS AND BALANCE SHEETS . Simple Financial Calculations . Analysing Performance - The Balance Sheet . Analysing Performance . Analysing…

1. ManufacturingAccountsBY INQILAB PATELMAIN CAMPUS 2. Manufacturing Business MANY BUSINESS ENTITIES ENGAGE IN MANUFACTURING ACTIVITIES AND THIS INVOLVES:The purchasing…

Slide 1 1 Manufacturing Account Slide 2 2 Production Cost Production cost = Prime cost / Direct cost + Factory overhead expenses / Indirect cost Slide 3 3 1. Direct materials…

Slide 1 Virginia’s Energy Region Virginia Coalfield Economic Development Authority Joint Meeting of the Commission on Electric Utility Restructuring and the Coal and Energy…

Slide 1 07 Measuring Domestic Output and National Income McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2 National Income…

Slide 1 1 Slide 2 2 Slide 3  Business which buy raw materials and convert these into finished products which then sold 3 Slide 4 4 Slide 5 5 Slide 6 1. Direct materials…