Understanding the Major Elements of Manufacturing Costs PREMIUM
Updating your learning record... Please wait.
Learning SummaryDescription:
This training module discusses the nature of manufacturing costs and identifies the key cost elements that compose it: direct materials, direct labor, and manufacturing overhead. It discusses the operational parameters that underlie each cost element, how these parameters are used to calculate costs, and explains the cost rollup process. Finally, it shows how to use manufacturing costs to identify cost improvement opportunities and increase product profitability.
Prerequisites:
Basic Cost Concepts for Decision Making; Fixed, Variable, and Semivariable Costs, Direct and Indirect Costs
Who should complete this module:
Managers, supervisors, entrepreneurs, and professionals in any discipline who work in manufacturing operations; CPA, CMA, CGMA, and other accounting professionals; educators and students in business and management accounting.
Learning Objectives:
In this module, you will learn to:
1. Define manufacturing costs.
2. Identify the major elements of manufacturing costs.
3. Identify the operational parameters that underlie each cost element.
4. Discuss the cost rollup process.
5. Show how to use these costs to identify cost improvement opportunities.
1. Define manufacturing costs.
2. Identify the major elements of manufacturing costs.
3. Identify the operational parameters that underlie each cost element.
4. Discuss the cost rollup process.
5. Show how to use these costs to identify cost improvement opportunities.
Competencies Acquired:
A basic understanding of how to use manufacturing costs to identify cost improvement opportunities.
Program Level:
Intermediate
Duration of Video:
6:56
CPE Credit:
0.5
Delivery Method:
QAS Self Study
Field of Study:
Finance
Additional Info:
For general information regarding our training modules, including practice exercises and assessments, or information on refunds, concerns and program cancellation policies, please see our Help section under the Resources menu.
Last Revision Date:
1 Aug 2019
ALSO IN THIS TRAINING SERIES
Sign Up