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Material, labour and expense costing - Coggle Diagram
Material, labour and expense costing
Material stages
Raw material
Finished goods
Work in progress
Material cost calculation
Closing inventory= opening inventory +Purchase- COGS
Inventory valuation methods
Buffer inventory
First in first out method( FIFO)
Last in first out method (LIFO)
Weighted Average method
Periodic
Perpetual
Labour cost calculation
Building cost
People related cost
Machine operating cost
Information processing cost
Finance cost
Selling and distribution cost
Consulting fees