cmr-207

cmr-207 which of the following describes the cost of goods manufactured? product costs consist of

 cmr 207 study guide chapter 16- chapter 16: managerial accounting concepts and principles objectives 1. describe managerial accounting and the role of managerial accounting in a business: managerial accounting is designed to meet the specific needs of the company’s management. providing objective measures of past operations and future decisions. 2. describe and illustrate direct/indirect costs; direct materials, direct labor, and factory overhead costs; and product/period costs: direct costs are identified with and traced to the cost object while the indirect costs cannot be identified or traced. direct materials cost is the integral part of a finished product. direct labor costs are the cost of employee wages. factory