Question

What are the costs of producing a product?

Answer 1

In managerial accounting and cost accounting, production costs are the direct materials, direct labor, and manufacturing overhead used to manufacture products. The production costs are also referred to as manufacturing costs, product costs, a manufacturer's inventoriable costs, or the costs occurring in the factory.

Answer 2

In managerial accounting and cost accounting, production costs are the direct materials, direct labor, and manufacturing overhead used to manufacture products. The production costs are also referred to as manufacturing costs, product costs, a manufacturer's inventoriable costs, or the costs occurring in the factory.