UGBS 208 : SESSION 2 - MANUFACTURING ACCOUNTS

Merchandising or trading organizations buy and sell goods at a profit. However, there are some organizations that produce or manufacture their own goods for sale. Manufacturing firms can determine their selling prices and profitability when they are aware of the total cost incurred in transforming the raw materials into finished goods. This session seeks to help students to determine the cost of production and prepare the final accounts for a manufacturing organization.