Absorption costing is a costing system that is used in valuing inventory. It not only includes the cost of materials and labor, but also both| Corporate Finance Institute
Activity-based costing is a more specific way of allocating overhead costs based on “activities” that actually contribute to overhead costs.| Corporate Finance Institute
Cost of Goods Manufactured (COGM) is a term used in managerial accounting that refers to a schedule or statement that shows the total| Corporate Finance Institute
Cost of Goods Sold (COGS) measures the direct cost incurred in the production of any goods or services. It includes material cost, direct| Corporate Finance Institute