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What is Product Costing-SAP

What is Product Costing-SAP

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Published by: Manoj Kanwar Rathore on Jun 21, 2012
Copyright:Attribution Non-commercial

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07/31/2013

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2-1
 
Product CostsThe costassigned togoods that were
either purchased
or manufacturedfor resale.Period CostsCosts that areidentified withthe period in
which they are
incurred.
The Meaning of “Cost”?
 
 
The sacrifice made,usually measured bythe resources given up,to achieve a particularpurpose.
 
2-2
Manufacturing Companies
There are 3 major categories of manufacturingcosts:
 
Direct Materialsresources that can befeasibly observed beingused to make a specificproduct. Direct LaborThe cost of payingemployees whoconvert direct materialsinto finished product. ManufacturingOverhead
 
Indirect materialIndirect laborOther overhead
 
2-3
Manufacturing Companies
Prime Costs include:
Direct MaterialsDirect Labor ManufacturingOverhead

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