for financial reporting, which costs are usually included as proudcut cost in a manufactring company?

Question

explain it plz

Answer 1

A manufacturer’s product costs are the direct materials, direct labor, and manufacturing overhead used in making its products. (Manufacturing overhead is also referred to as factory overhead, indirect manufacturing costs, and burden.) The product costs of direct materials, direct labor, and manufacturing overhead are also “inventoriable” costs, since these are the necessary costs of manufacturing the products. Product costs are what actually goes into the making of the product. For e.g., when you make a chair upholstered in fabric, the wood and the fabric would be direct materials, the workman's wages would be direct labour, and manufacturing overhead would include the depreciation of the wood cutting/planing equipment, etc.

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