Question

The expense that a manufacturing firm Incurs in the form of wages to its labor falls under the category of Reset Next​

Answer 1

Answer:

Cost of Goods Sold( COGS)

Explanation:

Costs of goods sold ( COGS)or cost of sales is the expense incurred in manufacturing goods sold in a period. COGS is composed of the direct cost incurred in manufacturing goods sold by a business. The direct cost includes direct materials, labor, and direct overhead costs. Direct labor is the total of wages and salaries paid to workers involved directly in the production process.

Calculation of the cost of goods sold involves adding beginning inventory to purchases and subtracting the ending inventory.