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1、ManagerialCostConceptsandCostBehaviourAnalysisManufacturingCostslManufacturingconsistsofactivitiestoconvertrawmaterialsintofinishedgoods.lIncontrast,amerchandisingfirmsellsgoodsintheforminwhichtheywerebought.DirectmaterialslRawmaterialsarebasicmaterialsandpart
2、susedinmanufacturing.lRawmaterialsthatcanbephysicallyanddirectlyassociatedwiththefinishedproductarecalleddirectmaterials.lExamplesinclude:nFlourinthebakingofbreadnSyrupinthebottlingofsoftdrinksnSteelusedinmakingautomobilesDirectlabourlWorkoffactoryemployeestha
3、tcanbephysicallyanddirectlyassociatedwithconvertingrawmaterialsintofinishedgoodsisdirectlabour.lExamplesincludenBottlersatCoca-ColanBakersatSaraLeenTypesettersatanewspaperManufacturingOverheadlCoststhatareindirectlyassociatedwithmanufacturingoffinishedgoodslAl
4、lmanufacturingcoststhatcannotbeclassifiedasdirectmaterialanddirectlabourlExamplesinclude:nIndirectmaterialsnIndirectlabournAmortizationonfactorybuildings,insurance,taxes,maintenanceonfactoryfacilities.IndirectmaterialslRawmaterialsthatcannotbeeasilyassociatedw
5、iththefinishedproductarecalledindirectmaterialslIndirectmaterialsdonotphysicallybecomepartofthefinishedproductorrepresenttoosmallapartofthefinishedproductintermsofcostlConsideredpartofmanufacturingoverheadlExamplesinclude:nLubricantsnCleaningsuppliesnPolishing
6、compoundsIndirectlabourlWorkoffactoryworkersthathavenophysicalassociationwiththefinishedproduct,orforwhichitisimpracticaltotracetothegoodsproduced,isindirectlabourlExamplesinclude:nWagesofmaintenanceworkers,janitors,andsecurityguardsnSupervisorsnTime-KeepersPr
7、imeCostsandConversionCostslPrimecostsarethesumofalldirectmaterialscostsanddirectlabourcosts.Thesearealldirectmanufacturingcosts.lConversioncostsarethesumofalldirectlabourcostsandmanufacturingoverheadcosts,whichtogetherarethecostsofconvertingrawmaterialsintoafi
8、nalproduct.ProductCostslConsistsofthedirectmaterialcost,thedirectlabourcost,andthemanufacturingoverheadcostlAnecessaryandintegralpartofproducingtheproductlRecordedasinventorywhenin
