Must know formulas for midterm 1
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Last updated 3:57 AM on 4/20/26
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4 Terms
1
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Direct Materials used
Beginning DM + purchases of DM - Ending DM
2
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Total Manufacturing Costs
Direct Materials used + Direct Labor + Manufacturing Overhead
3
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Cost of good manufactured ( cost of goods completed)
Beginning Work in Process + total manufacturing costs - Ending Work in Process
4
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Cost of good sold
Beginning Finished Goods + Cost of Goods Manufactured - Ending Finished Goods