I probably need an expert or someone very good at teaching toanswer this.For cost...I...

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Accounting

I probably need an expert or someone very good at teaching toanswer this.

For cost flows and cost terminology from managerial accounting ineed help understanding definitions and concepts and what accountsare included for:

conversion costs, cost of purchasing goods from suppliers,direct vs indirect costs, variable overhead, fixed overhead, commoncosts, manufacturing overhead, cost drivers, cost of goodsmanufactured, cost pool, cost objects, work in process.

I need to know how this relates to the equations of :

BI + adds = EI + usage

And formulas

Rm inventory = BI + purchases = EI + RM
WIP inventory = BI + DM DL OH = EI + COGM
FG inv = BI + COGM = EI + COGS

Answer & Explanation Solved by verified expert

3.7 Ratings (353 Votes)

Conversion costs are those costs which are incurred to bring to convert the raw materials into the finished goods form or providing final services Examples are direct indirect labour power fuel factory rent equipment hire charges cost of product specific design other expenses which are directly related with production of goods or provision of servicesetc Cost of Purchasing Goods from suppliers is the net of all discounts paid amount to the suppliers for purchasing raw materials for manufacture or for provisioning services Direct vs Indirect Costs Direct Cost are those costs which finally form part of the finished goods Direct costs include See Answer

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In: AccountingI probably need an expert or someone very good at teaching toanswer this.For cost...I probably need an expert or someone very good at teaching toanswer this.For cost flows and cost terminology from managerial accounting ineed help understanding definitions and concepts and what accountsare included for:conversion costs, cost of purchasing goods from suppliers,direct vs indirect costs, variable overhead, fixed overhead, commoncosts, manufacturing overhead, cost drivers, cost of goodsmanufactured, cost pool, cost objects, work in process.I need to know how this relates to the equations of :BI + adds = EI + usageAnd formulasRm inventory = BI + purchases = EI + RMWIP inventory = BI + DM DL OH = EI + COGMFG inv = BI + COGM = EI + COGS