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What is autarky?
Work in Process Inventory
The account that tracks the costs associated with partially completed goods that are still in the process of being manufactured.
Unadjusted Cost of Goods Sold
Unadjusted Cost of Goods Sold (COGS) is the initial calculation of all costs directly associated with the production of goods before any adjustments for inventory changes or other factors.
Journal Entry
A record in the accounting journal that represents a business transaction and its effect on the accounts.
Manufacturing Overhead
All indirect costs associated with the production process, from maintenance expenses of the production facility to the supplies needed for operation.
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