The term total manufacturing costs and cost of goods manufactured are used interchangeably.

Fixed costs are costs that do not vary with volume.

Mixed costs contain both variable and fixed elements.

Product costs include direct labour.

Prime cost is the sum of _____________ and _____________.

Cost of goods sold is beginning finished goods inventory plus _______________minus ending finished goods inventory.

Cost of direct materials purchased is cost of direct material used _______________ beginning inventory _____________ ending inventory.

The sum of direct labour and manufacturing overhead is __________________.

Selling and administrative expenses are

Costs of pears in a fruit cocktail is a

Costs of insurance on office equipment is a

Costs of rework on defective products is a

Costs of social security tax for direct labour is a

The foreman's salary is a (n)

Leather used in the manufacture of shoes is a (n)

Lubricants for machine is a (n)

Depreciation of factory equipment is a (n)

Finished goods inventory will be recorded in the

Costs of raw materials purchase will be recorded in the