Manufacturing Statement and Manufacturing Costs Assignment Help
What is manufacturing statement?
In accounting, the different costs which are incurred in the process of manufacturing are to be recorded. The recorded manufacturing expenses are then compared to the manufacturing budget in order to deduce how far the manufacturing goals have been met or whether they’ve fallen short of the goals. Manufacturing statement is the record of manufacturing expenses and it helps the manufacturers to keep a track of the manufacturing activities.
Manufacturing statement assignment:
Colleges focus on all important segments while they allot homework or projects and it goes without saying that manufacturing statement is a very important part of the accounting process and hence it is a very popular theme for assignments. Students come across various problems while working on their respective assignments and the answer to all doubts and dilemmas are not available online. Moreover, students might have other issues with the homework, like insufficient time at hand or incomplete knowledge on the subject. In any of these cases, students can always seek out the manufacturing statements homework help that is extended by myhomeworkhelp.com only for academic purposes!
If a person is to create a manufacturing statement, he must first know of all the manufacturing costs. With manufacturing statements assignment help students can get a grip o their concepts about various manufacturing costs. Not only that, they can have ready-to-submit assignments handed over to them if they please. The manufacturing costs to be recorded in a manufacturing statement are:
- Raw material: raw materials are a necessity and they are required to manufacture the product, whatever it might be.
- Labor force: The work or the manufacturing process cannot be carried out without labors and labors are entitles to wages in return of their services. The production is largely dependent on labors and at the same time, a significant amount of manufacturing cost is spent on this factor of production.
- Rent: The production activities are to be carried out in a certain place, using specific machineries. If the place is not owned by the company, an amount of rent has to be paid for using it. Similarly, the purchasing or hiring of equipment and machinery are also to be included in the manufacturing cost.
- Overhead expenses: Transporting raw materials to the production house and transporting finished goods to the market costs an amount. So does storage, and all these costs are also included under manufacturing statement.
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