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  2. Direct materials cost - Wikipedia

    en.wikipedia.org/wiki/Direct_materials_cost

    Direct materials cost the cost of direct materials which can be easily identified with the unit of production. For example, the cost of glass is a direct materials cost in light bulb manufacturing. [1] The manufacture of products or goods requires material as the prime element. In general, these materials are divided into two categories.

  3. Cost of goods sold - Wikipedia

    en.wikipedia.org/wiki/Cost_of_goods_sold

    Costs of materials include direct raw materials, as well as supplies and indirect materials. Where non-incidental amounts of supplies are maintained, the taxpayer must keep inventories of the supplies for income tax purposes, charging them to expense or cost of goods sold as used rather than as purchased.

  4. Profit model - Wikipedia

    en.wikipedia.org/wiki/Profit_model

    The material cost of sales = m * μ * q, where m is the amount of material in one unit of finished goods. μ is the cost per unit of the raw material. The labour cost of sales = l λ q, where l is the amount of labour hours required to make one unit of finished goods; λ is the labour cost (rate) per hour.

  5. FIFO and LIFO accounting - Wikipedia

    en.wikipedia.org/wiki/FIFO_and_LIFO_accounting

    FIFO and LIFO accounting are methods used in managing inventory and financial matters involving the amount of money a company has to have tied up within inventory of produced goods, raw materials, parts, components, or feedstocks. They are used to manage assumptions of costs related to inventory, stock repurchases (if purchased at different ...

  6. Manufacturing cost - Wikipedia

    en.wikipedia.org/wiki/Manufacturing_cost

    Indirect materials cost: Indirect materials cost is the cost associated with consumables, such as lubricants, grease, and water, that are not used as raw materials. Other indirect manufacturing cost: includes machine depreciation, land rent, property insurance, electricity, freight and transportation, or any expenses that keep the factory ...

  7. Semi-variable cost - Wikipedia

    en.wikipedia.org/wiki/Semi-variable_cost

    Including the wages, utility bills, raw materials etc. the extra cost per hour (the variable cost) is £300. In this example, the weekly fixed cost is £5000, the variable cost is £300 per hour, and the output is 20 hours. To find the total cost , we calculate:

  8. Electric vehicles are getting more expensive because raw ...

    www.aol.com/getting-more-expensive-electric-cars...

    The cost of raw materials needed to make electric vehicles is rising. The average cost in raw materials is now around $8,255 per vehicle, according to consulting firm AlixPartners.

  9. Cost accounting - Wikipedia

    en.wikipedia.org/wiki/Cost_accounting

    An important part of standard cost accounting is a variance analysis, which breaks down the variation between actual cost and standard costs into various components (volume variation, material cost variation, labor cost variation, etc.) so managers can understand why costs were different from what was planned and take appropriate action to ...