Cost Terms

__ cannot be directly traced to an __.
Indirect costs, cost object
__ include the costs of all resources used throughout the value chain.
Total costs
GAAP requires companies to use only __ for inventory reported on external financial statements.
Inventorial product costs
Company-paid __ may include health insurance, retirement plan contributions, payroll taxes, and paid vacation.
Fringe Benefits
When manufacturing companies sell their finished products, the cost of those finished products are removed from inventory and expensed as __.
Cost of goods sold
__ are the costs of transforming direct materials in finished goods.
Conversion costs
Include R&D, marketing, distribution, and customer service costs.
Period cost
Direct material plus direct labor equals __.
Prime costs