Cost of goods sold, often abbreviated COGS, is a managerial calculation that measures the direct costs incurred in producing products that were sold during a period. In other words, this is the amount of money the company spent on labor, materials, and overhead to manufacture or purchase produ...
COGS is based only on the costs that aredirectlyutilized in producing that revenue, such as the company’s inventory or labor costs that can be attributed to specific sales. By contrast, fixed costs such as managerial salaries, rent, and utilities...
Operating Expenses | Definition & Examples Pretax Income | Definition, Formula & Calculation Net Loss Definition, Formula & Calculation Start today. Try it now Accounting 301: Applied Managerial Accounting 20 chapters | 146 lessons | 14 flashcard sets Ch 1. Corporate Governance for Managerial...