Study

BUY AND SELL

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  • Money a business pays for different things- like buying materials or paying workers
    Disbursements:
  • The things needed to make a product- such as materials- labor- and other costs
    Elements of a product
  • Products that are being made but are not finished yet
    products in progress
  • for materials and workers who make the product
    Direct costs
  • Work done by people to make a product
    labor
  • the work that directly helps make the product
    Direct labor
  • The point when a business makes enough money to cover its costs but does not make a profit or a loss
    Breakeven
  • Extra costs in a factory- like electricity- machines- and cleaning that help make products but are not part of the materials
    Cargo factory
  • new items bought for the business
    purchases
  • Money spent to make a product
    costs
  • Costs for selling products like advertising
    sales expenses
  • the stock of products a business has
    inventory
  • Costs for running the office- like salaries and supplies
    Administrative expenses:
  • for running the business -like rent- marketing-and office supplies
    Costs vs. Expenses:
  • for things like rent and electricity
    Indirect costs
  • costs for banking and loans like interest
    financial expenses
  • for making a product
    costs
  • Products that are complete and ready to be sold
    finished products
  • the work that supports the production but does not directly make the product
    Indirect labor
  • The things used to make a product like wood for furniture or flour for bread
    raw materials
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