Assuming a separate schedule of cost of goods manufactured,which of the following is found on a manufacturer's income statement?
A)cost of goods sold
B)work in process
C)direct materials
D)direct labour

Question

Quizplus · Accepted Answer

Cost of goods sold is found on a manufacturer's income statement, as it reflects the expenses incurred in producing the goods that were sold during the period. Work in process, direct materials, and direct labour are all components of the cost of goods manufactured schedule, which is used to calculate the cost of goods sold.

Assuming a Separate Schedule of Cost of Goods Manufactured,which of the Following