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Finding Direct Labor Cost
I just started a five-week course for Principles of Accounting II. I took the first one during the regular semester and taking the faster pace gets me to graduation next month instead of December.
The assignment I'm working on is in several parts and I'm already stumped on the first one. I have a few formulas from my book, but I'm not finding one on how to get Direct Labor Cost. When preparing a statement of cost of goods manufactured and cost of goods sold, how do you get direct labor? I'm finding all sorts of things about this cost, but not how to get it. I barely passed the first part of this class last semester; it's pretty much Greek to me. I can balance a checkbook and do my own, very simple finances, but not like this. Any help is greatly appreciated. |
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I don't need someone to do my homework for me, just a simplified explanation. What plus/minus what = direct labor. I have to do a fill in the blank with part of this assignment and direct labor is just the first one. I *should* be able to do everything else.
Thanks again! |
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Are you able to be more specific?
Direct labour cost is that cost which results from the use of labour and is the result of multiplying time expended and an hourly rate By the way there is no fast track in accounting, you do the work until you understand the principle otherwise you are likely to be incompetent |
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