For external reporting purposes, costs must be classified into only three categories. (2) Cost of goods manufactured represents the cost of direct materials, direct labor, and overhead incurred during the current accounting period.

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Q: Which of statements about the contribution income statement is correct? Group of answer choices

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Q: Which of the

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Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.