Compare management accounting with financial accounting Understand the important roles and responsibilities in management accounting Identify the elements of product cost including direct materials, direct labor, and manufacturing overhead Compare and contrast direct costs versus indirect costs Compare and contrast product costs and period costs Explain the cost flow of materials, labor, and overhead in computing manufacturing costs Compute the cost of finished goods manufactured

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Ch16
Compare management accounting with financial accounting
Understand the important roles and responsibilities in management accounting
Identify the elements of product cost including direct materials, direct labor, and manufacturing
overhead
Compare and contrast direct costs versus indirect costs
Compare and contrast product costs and period costs
Explain the cost flow of materials, labor, and overhead in computing manufacturing costs
Compute the cost of finished goods manufactured
Transcribed Image Text:Compare management accounting with financial accounting Understand the important roles and responsibilities in management accounting Identify the elements of product cost including direct materials, direct labor, and manufacturing overhead Compare and contrast direct costs versus indirect costs Compare and contrast product costs and period costs Explain the cost flow of materials, labor, and overhead in computing manufacturing costs Compute the cost of finished goods manufactured
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