Explain how manufacturing costs flow through these accounts

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Reference no: EM13591863

1. A manufacturing company makes the products that it sells. Briefly identify and define the cost elements that are incurred in making a product. After product cost elements are identified, how is the cost of goods manufactured for a period determined?

2. A job order cost accounting system is fully integrated into the general ledger of a company. Identify the major general ledger accounts used in a job order cost system. Explain how manufacturing costs flow through these accounts so that inventories may be cost and income determined when goods are sold.

Reference no: EM13591863

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