Manufacturing Accounts Q&A

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on November 17, 2021

1. Define manufacturing concern.

2. Define trading concern.

3. Define direct material.

4. Define direct labor cost.

5. Explain direct labor.

6. Explain indirect labor.

7. Define factory overhead.

8. What is prime cost?

9. What is conversion cost?

10. What is factory cost?

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

2 thoughts on “Manufacturing Accounts Q&A”

  1. Are the same CGM (cost of manufacturing) and COGS (cost of good sold) ?
    How to recognize these two cost .


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